Investors take protest against builders to EOW (TOI)

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Investors take protest against builders to EOW
June 19, 2009
Rahul Tripathi | TNN

New Delhi: As part of his plans to settle in India, NRI Mikki Maan invested in a property at Bhiwadi. However, even two-and-a-half-years after paying the pre-launch money, Maan’s much-promised house is nowhere in sight. He is among 500 people who have now complained to cops against Noida-based Green City Buildtech. On Thursday, 50 of them protested outside the office of the economic offences wing (EOW).

Another firm, Delhi-based AJS Builders, is also facing allegations of not delivering on their promises of homes in Gurgaon, Gannaur and Indirapuram. EOW officials said they had received more than 200 complaints against the two builders and registered cases which were under investigation. On Thursday, some investors filed fresh police complaints against the builders.

Speaking to Times City, Maan, who invested with Green City said, “I paid Rs 2.5 lakh for a plot in Bhiwadi in 2007. The builder promised that the project would be completed soon and we will get possession within two years. But after two years, the managing director of the company started avoiding our queries. We then lodged a complaint with the police.”

Maan alleged that the builder, who promised projects in Bhiwadi, Daruhera and Agra, did not have the requisite permission from the agencies concerned. Even the plots in question were owned by farmers, he alleged. Said Monica Saini, who said she had invested Rs 3.10 lakh in a prelaunch scheme: “We lodged a complaint with the police on Thursday. I had given Rs 3.10 lakh in January 2007 and since then have been running around the offices of the builder in Noida but they refused to return the money.’’

To check the veracity of the allegations, TOI made several attempts to contact Jeetendra Chaudhary, MD of Green City Buildtech, but his phone was switched off. Meanwhile, TOI spoke to the sales head of AJS Builder, Sumit Malik, who said: “We have got the permission and clearances. The investors need not worry. We will fulfil our promises. The investors want their money back as the economy is showing a downward trend.”

Vivek Paruthi, who works for an MNC, told Times City, “I invested in AJS’ Gurgaon scheme in 2007 and paid Rs 4.5 lakh. But when there was no response on the promised dates, we approached the authorities. We found that the builder did not even own the land.” He added, “We have also learnt from an RTI filed with HUDA that the builders did not have any permission and necessary clearances from the authorities and had spent lakhs in advertising.”

Delhi Police spokesperson ACP Rajan Bhagat said: “We have registered a case against Green City and AJS Builders.”

Source - Times Of India