Cherry Dogra has been waiting for her house for two years and it seems unlikely she will get it any time soon. She had booked an apartment in AN Buildwell’s Spire Wood project at Sector 103 in 2011.
The developer had promised to hand over the flat by 2014. But as of today, construction is far from over, the company is in disarray and funds have allegedly dried up. Dogra is among 500 homebuyers in the lurch despite paying up 70% of the cost.
“The developer came up with the Spirewood project in 2011 to construct 12 multi-storeyed residential buildings on 11.5 acres of land in Sector 103. Some 520 homebuyers had then booked flats in this project. We were promised possession of our homes by 2014,” Dogra said. “We are now really worried about our investment. We are paying EMI for the loan taken for our home in the project as well as rent for our current accommodation,” she added.
Tired of the delay, Dogra and other homebuyers had resorted to protests at the mini-secretariat on Sunday, and shouted slogans against the builder and demanded government intervention to resolve the mess.
“After getting 70% of the cost of the homes, AN Buildwell has abandoned the project. The construction work at the project site had been stopped since October 2014,” said Harpreet Ghumman, one of the homebuyers.
“In fact, in the 12 towers of the project, only the structures have been raised. Moreover, towers T8 to T12 are flooded with at least 15 feet water, which is weakening the foundation of the buildings,” he added.
Rajnish Kumar, another homebuyer, said, “There is no communication from the builder about the status of the project completion, except an email dated December 14, 2015 wherein a senior official, Anjan Kumar Adhikari, conveyed to us that work has stopped as a result of some dispute with the contractor and a foreign investor.”
Some homebuyers alleged that the developer had diverted funds to others projects and all the directors have resigned from the company. Brigadier (Retd) BS Dadwal said, “Even the money collected from the buyers in the form of external development charges and internal development charges by the builder has not yet been deposited with the government. AN Buildwell, from 2014 till date, have shifted its office at least four to five times and that too without any intimation to the buyers. As on date, the developer has no formal address for us to communicate.”
Another homebuyer, Priti Nath, said, “We came to know that all the directors have resigned from the company.”
When contacted, Maninder Singh, a spokesperson for AN Buildwell, said the project had suffered because a foreign investor, which was supposed to pump in Rs 78 crore, hadn’t done so. “Despite holding 42% share in the company, the foreign investor did not bring in the amount.”
However, Singh said that around 70% of civil work has been completed in Spirewood, and “the project can still be revived and buyers can get possession if the management regroups, the foreign investor brings in the money and customers pay the balance amount”. “The promoter has tried his best to complete the project, despite all adversity and has no intention to leave the project incomplete,” Singh added
Deputy commissioner TL Satyaprakash said prima facie there seemed to be some irregularities. “It is a very complex matter and we will be in a position to say anything only after knowing all the aspects,” he said.
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