13 Emaar MGF officials booked for flat delay

emaar mgff

Realty firm Emaar MGF and 13 of its top officials, including directors and the managing director, were on Wednesday booked for criminal breach of trust and cheating homebuyers, police said.

An FIR has been filed under IPC 406 (criminal breach of trust) and 420 (cheating) at DLF-I police station, following complaints of buyers that possession of their homes in Emerald Hills Township, an upscale project in Sector 65, was delayed by over three years, a police officer told TOI.

The investors alleged that the developer had collected Rs 1,000 crore from the project, which began in 2009 and was supposed to be completed by 2013. However, till date, the apartments are yet to be delivered.

“Emaar MGF has been deliberately delaying the completion and possession. Over Rs 1,000 crore collected by the builder have been misappropriated and diverted to other projects,” said Rama Chawla, president of Emerald Hills Owners’ Welfare Association.

A spokesperson for Emaar MGF said, “It appears the FIR has been made without any investigation. We will examine the FIR and comment on the merits. As regards the buyers of Emerald Hills, they had given us a representation, which only asked us to give them construction schedule. We have already shared it with them.”

Source: ET Realty



About Zricks.com

Zricks.com is a simpler way to search for Residential and Commercial projects across India. With over 4000+ Projects, 2500+ Developers, 1300+ Agents, 8000+ Localities. Zricks.com is an easier way to post your property and post your requirement to Buy, Sell and Rent Properties in India. 

Check out Walkthrough, Compare & Brochure page to see what everyone is talking about.



Zricks.com is a simpler way to search for Residential and Commercial projects & properties across India with over 5000+ Projects, 1000+ Properties, 2500+ developers, 1500+ Agents, 8000+ Localities. Check out Walkthrough, Compare, QnA & Brochure page to see what everyone is talking about.

Leave a Reply