The Airwill Business Park Pvt. Ltd., B-21-22, Sector 16, Noida, UP launched an Intellicity project in Noida Extension in the year 2013. I have purchased a Kiosk in Food Court of Temporal lobe of theIntellicity under annual payment plan. The Builder promised to handover the kiosk by the year 2017. I have already paid 75% amount and now the builder has asked for payment of next installment of 20%. So far I have invested a large portion of my retirement benefits in this project and I had been thinking to start a food business in this Kiosk by 2017. But all my expectations have become infructuous due to this attitude of builder.
I have seen the construction site. A little construction had been started in the year 2014 to attract the investors and the construction was stopped thereafter. Not more than 1 percent construction has been done so far. Since there is no progress in the construction, it is unlikely that the project will be ready even after a period of 5 years. On the other hand, the builder has already amassed hundreds of crores rupees from benevolent investors.
In order to befool the investors, the builder has uploaded construction updates on their website. If we see these photos carefully we can easily understand that the photos of the little construction done in 2014 have been taken from various angles and uploaded. There is no progress in construction for the last 2 years. The site is totally deserted for the last two years. In order to befool the investors, the builder has constructed a very big air-conditioned site office near the construction site last year and this office is also deserted.
Now the builder has asked for payment of next installment of 20% and failing which he has threatened us of penalty of 24% interest. It seems that somehow the builder wants to amass the wealth and befool the investors. It is understood that the builder has encroached the “Shamlat” land meant for potters to dig the soil for making of potteries and the matter is sub-judice. The case is not likely to be decided in near future. The Greater Noida Authority is totally silent in the matter and has given no clarification of the matter raised through electronic and print media.
To save the investors from the clutches of this unscrupulous builders, I urge upon you to take immediate necessary action and instruct the builder to stop further collection of installments till the matter is decided by the Court. In case the matter is decided against the Builder, the Builder may be instructed to refund all the money of the investors with 12% interest.
Hoping for an urgent action in the matter.
Yours faithfully,
VINOD KUMAR GUPTA
ADDITIONAL DIRECTOR (RETIRED), LOK SABHA SECRETARIAT
Q 103, BHAGAT ENCLAVE, ITWAR BAZAR,
BINDAPUR MATIALA ROAD,
UTTAM NAGAR, NEW DELHI 110059
PHONE: 9999400743