: Hundreds of buyers of
CHD Golf Avenue
in Sector 106, situated along the Dwarka Expressway, are worried about their investments as there is no sign of completion of the project even two years after its proposed date of completion.
Launched in July 2012, the project is spread across 12 acres and has a total of nine towers with around 650 units. “No construction has been taking place since 2015. Whenever we enquired about the project or insisted on a site visit, we were refused over claims of safety concerns. Interior work on the apartments was supposed to be done four years ago, but it hasn’t been done until now,” said Vishal Rekhi, a homebuyer, who along with other buyers has filed a case with RERA.
He added that investors are concerned that the builder, CHD Developers Limited, has diverted funds from the project to complete other projects. “We have had several meetings with the developer demanding restarting of the construction of the project, but for the last one and a half years, the builder has been citing lack of funds as the reason. The developer has already collected around Rs 450 crore from buyers, but still claims to have no money to complete the project. There is a strong possibility that the builder has diverted funds to other projects, because of which he has no funds left to complete this project. As the land of the project has been mortgaged with a bank, we may lose our entire life savings if the company goes into liquidation,” Rekhi said.
Some buyers have approached the National Consumer Disputes Redressal Commission (NCDRC) to demand action against the developer and seek refund, he said.
Buyers said the developer got a licence for the project in July 2012, valid till 2016, and it has not been renewed after it expired. It was issued in the name of Empire Realtech Pvt Ltd, which is collaborating with CHD for the project.
“The request for subsequent renewal of licence was made in 2016, but the project had a lot of deficiencies, including outstanding external and internal development charges. The licence has not been renewed due to these,” a buyer alleged.
“I had purchased a unit under subvention scheme (in which the builder pays loan instalments till possession), but the developer has stopped paying instalments. Now, I am getting continuous notices from the bank. This had also adversely affected my CIBIL score,” said Atheeth, another buyer.
Others alleged that the developer had promised luxury homes at the time of sale but the use of sub-standard materials in construction as well as non-compliance of construction norms has “shattered their dreams”. “We have serious concerns over the quality of the project, as the builder has used sub-standard construction materials. The brochure of the company had promised it to be a luxury project,” said another buyer, requesting anonymity.
Gaurav Mittal, director, CHD Developers, couldn’t be reached despite repeated calls and messages by TOI.