ERA Redwood Residency - Delay in Construction

[arppie]

Hi all!!!

I went to era's redwood residency site in sec 78 & found that from the completion of structure in nov 2010..there is no progress..infact era's has added a new tower which they sold at very high rate...and their main focus now is to complete that tower first so that they can get high money on that.. in the mean time era has taken most of the money for our flat and will enjoy the interest on that... after asking to site ppl.. thay said that it will take another 18 months to finish the our flats.. as per agreement the flat should be handed over in oct 2010 but still we are waiting for that.. as no grace period was mensioned in our agreement but penalty of rs 5/sq. feet / month is applicable now...i have a strong feeling that no builder is giving penalty nowadays... what to do now??

[aashkaul12]

Dear arppie,
It would be better if you could get in touch on 9891498887 ASAP, There is a lot more to the facts regarding redwood residency. TC

[arppie]

ashish its me..piyush...arppie is my login name...

[webmaster]

Hi ERA members, please try to use the forum to your advantage by posting all relevant information on the forum so that it becomes publicly available and can be found easily by anyone searching for information on ERA. If there is any update on ERA, please post it on the forum removing the confidential information. The advantage of posting on the forum is, it is google friendly and anyone looking for information can find the information here. The more people know about your group here, better it is for your cause.

[arppie]

hi all.. as i visited few days back to my flat site i.e era's redwood residency sec 78, the builder is having the same strategy as others, have completed all the floors in all block.. and now work is stopped in many blocks.. builder is trying to finish first those towers, which r the new ones and will sell them on higher rates.. when i asked the project manager about my tower. he said that management has instructed to finish new towers first so he is going as per management plan.

Our official possession was in Oct. 2010. Presently I am residing in Sec. 16, Faridabad on rent of Rs. 14000/- per month. It is a direct loss of money to me as if I would stay in my own flat, I can save this huge amount per month. Apart form that, I had taken home loan for the above said flat and I am paying heavy interest in my EMI, but I am unable to claim the tax benefit because I do not have possession of my flat. If I would stay in my own flat, it is easy for me to get the tax benefit of my interest paid to bank.

Most of the builders has made this is a taken as granted system..as they very well we all have paid them most 80-90% of the money now they can enjoy the heavy interest on that because for building the structure the cost incurred is vary less as compared to the money collected from the customers..and they know that HUDA has given them an opportunity by not developing the basic infrastructure.... so they r safe.. they r thinking when HUDA can take money (EDC&IDC) and enjoy it without doing anything, why not they can also do that??

even nowadays, HUDA is claiming that they have acquired the land for roads, but till the work of roads is not started, It is useless for all..as a govt. employee i know the process of govt. organizations, but HUDA is worst in the case of Faridabad. I am surprised why there is a difference between gurgaon and faridabad development..

It is a very good forum to unite and do something for our rights...

piyush
9717786523.

[divya]

Hi,

Even we are also trapped by ERA.. NO clue what their intentions are... We booked this flat almost 3.5 yrs back.. Thankfully did not take loan and paid through Construction linked plan.

My unit is B.. flat no 11/4..

Have spoken to the Mktng guys in ERA.. Per them , they will give possession by this year end but if you actually look at the construction status .. Its impossible.

Have stucked badly.. cant sell as well as no buyers.

Divya

[hrishikesh]

The fact is Era has constructed all the Towers but the pace with which finishing work is going on is very slow. it will take another one yr. or so to complete the finishing. work.Any idea about central portion?what they are planning for?because it will create a bottleneck in possession.

[arppie]

In era redwood residency..the central portion does not belongs to builder..now era has clearly mentioned this in its new plans..regarding the delay in possession..era had done good amout of buy back of its old sold units at higher rates (from the initial bookings) in the anticipation of future market... but you r aware abt the current scenario of market.. so era is trying to finish its smallest tower (I) first..after that era will advertise "ready to move project" and after selling of the buy back units..era will finish the other towers...in my opinion the entire process will take further 1.5 to 2 years...so be ready for this delay..

piyush.

[arppie]

yesterday I got a call from some new customer for era redwood residency....he wanted to purchase a flat in era redwood residency & after discussions he told that that now era is claming to give possession in march 2013. If this is true.. I booked my flat in march 2006...it will take 7 years to get my flat.. some times I questioned myself, whether I took the right dicision by bookibg a flat in greater faridabad?????

[hrishikesh]

Dear Arpie
This is Hrishikesh...As per your post ,era will be offering possession by 2013.have u contacted era people?
it's true because a lot of works still to be done.my friend had visited the site on 20th October and he said they have started the finishing work ..can we press them to expedite.
i am also planning to visit the site on 6th November..

[hrishikesh]

I had visited the yesterday...
Although builder has allotted separate agencies for different towers for finishing work,but mobilisation of manpower is not sufficient.The progress is very slow .
here is the status of various tower.
Tower-A: Basement slab casting was in progress.also one team was doing external plaster work.i didn't notice any manpower for flooring etc.
Tower-B & C : External plaster work was going on at the time of visit.
Tower-D: two gangs was deputed for external plaster.flooring they have completed up to (19th -3rd) floor .In staircase they were fixing Kota stone.
Tower E&F: nothing was seen.
during conversation with the site people,he said due to Eid holiday some of the manpower had taken leave.when i asked when they are going to complete the project,he said company had given them six month target for completion,but as per my assessment it will tak at least a year to complete the project.
Other formalities like taking licences/NOC /Completion certificate will take another 2-3 months.So in my opinion ,they can't offer possession before 2013.....
only way left is we should press hard......

[pijushhaldar]

As per information in the HT properties newspaper, the possession date in April 2013.

[arppie]

the possession may go beyond April 2013 ....as per the pace of working at site. it will require 18 to 24 months to deliver the project to owners...

[arppie]

Yesterday I visited the site and was disappointed by seeing the progress of the project...External plaster of block A, B, C and D is still not completed.. only front portion which is visible from outside road is external plastered. Even internal plaster is not completed in many of the flats..I believe that flooring work can be done only after the completion of internal plasters.. the response by era site ppl is same as it is always "possession will be in next one year" The way, work is going on I am in big doubt on it....

[harsh5f]

Is there any update on the construction work?
I have a flat in tower I.