- Builder told to refund money to home buyers
- Given time of three years to rebuild/renovate flats
In a recent development, the Chintels India has been directed to pay a compensation of Rs 6500 per square foot, stamp duty and the expenses incurred by the flat owner in getting the interiors designed in case the Chintels Paradiso flat owners exercised the option to choose buyback. The developer has been asked to clear the payments in four months. Alternatively, if the residents want the flats, the builder should get it rebuilt or renovated as per the expert suggestions.
The decision was necessitated as two women died as the sixth floor flat of one of the towers caved in a year ago. The incident cast shadows on the security of the flat owners. A team of Delhi-IIT experts examined the towers and noticed defects in the structure that are beyond the scope of repairs. The team suggested pulling down the structure. In the backdrop of the expert decision, the government authorities took steps to avert loss to the property buyers.
A meeting with held with Chintels India and with the homebuyers and prepared an action plan. According to it, if the home buyers do not want the flat the developer should pay the cost of the flat along with stamp duty and the cost of designing the interiors. The payments should be made in four months. If anyone wants the flat, the developer is directed to either renovate or rebuilt the flat in three years.
