News: After complaints by buyers, DTCP seeks details of project, finances from OSB Developers-02-06-2022
The department of town and country planning (DTCP) on Wednesday directed OSB Developers to share the status of the construction of its project OSB Golf Heights in Sector 69
The department of town and country planning (DTCP) on Wednesday directed OSB Developers to share the status of the construction of its project OSB Golf Heights in Sector 69.
The DTCP also asked the developer to submit how much money it had so far received from its buyers and to look into why banks were refusing loans to allottees for the project.
“We have sought details of the buyers, payments made and other related issues. Also it has been decided that those buyers who have paid the developer only 5% of the money will be given 20 days to pay at least 20% more,” senior town planner Sanjeev Mann said.
The department issued the directions after a group of homebuyers, who bought units in the affordable project, complained that the pace of construction was slow and that’s why banks were refusing them loans to invest in the project.
“The project received environmental clearance in 2019 and despite that not more than 5% construction has taken place. Meanwhile, the developer is still demanding that we pay instalments regularly, and if we don’t the allotment will be cancelled,” alleged a buyer, requesting anonymity.
Chander Kant, another buyer, said that he had paid over 60% of the money, but despite that the developer was asking him to pay more while dodging the question of when the project would be ready.
Shyam Lal, a buyer, said that despite his good credit score, the bank refused him a loan, stating that the project was quite delayed. “We want the developer to resolve these issues,” he said.
After hearing the problems raised by buyers, Mann said that he called a meeting with promoters of the company next week to resolve buyers’ issues and to expedite construction.
A representative of the developer, meanwhile, said that project was slow to take off because only 275 units had been sold, and of these, 100 buyers had paid only 5% of amount. “We will share the details sought by the department in the next meeting,” he said.
