ERA Divine Court construction status and updates, possession, resale prices discussion

[nsamant3]

WHAT KIND OF RETURNS INVESTOR WILL GET IF REFUND IS INITIATED AND WHAT ABOUT THE COURT ORDER WHICH SAYS THE DEVELOPMENT AUTHORITY OR HUDA SHALL TAKE POSSESSION OF THE PROJECT AND SHALL DELIVER IT TO BUYERS AFTER COMPLETION. ERA CANNOT START THE REFUND PROCESS WITHOUT COURTS CONSENT AND NOBODY SHALL BEAR THAT LOSS. RECENT REGULATIONS ARE ALLOWING INVESTMENT IN UNDER CONSTRUCTION PROJECTS. CONSUMERS SHALL BENEFIT FROM IT NOT BUILDER.

[shubho]

Does anyone have any update on what is going on? Is the project being taken over by HUDA/Govt or are we getting a refund with interest?

[naveenarichwal]

Sumit Bhadana Arrested

[naveenarichwal]

Sumit bharana Arrested

[naveenarichwal]

Sumit Bharana arrestedfinal.jpg

SUMIT BHARANA ARRESTED

[shubho]

What is next for us the poor investors? Would we get our flats or our money back?

[vkupadhyay01]

I have discussed the issue of the commencement of construction with HDFC Bank and Era Adel officers. As per advice of HDFC bank, I have talked with Shri Vivek Gupta of Adel, incharge of Divine Court Project. He mentioned that they are under discussion with big groups of Divine Court high rise like IGNOU, Corporate bank society etc. They are going to send a proposal to the customer of A1, A2, B1 and B2 towers that the buyers shall give a cheque of Rs. 50000/- in the name of DGTCP (not in the name of ADEL) and by collecting Rs. 2 crores from buyers, ADEL will pay to DGTCP and get the licence in the ADEL's name. Afterwards, they will be in a position to start construction. They will open a separate bank account and 70% money collected from the buyers will be used for the construction purpose only and 30% will be used by the company for bank loans and the money so collected will be used for the Divine Court project only under supervision of buyers. They are in the process of completing the legal formalities in this regard. Sounds good proposal as builder-buyer mutual cooperation. However, as an individual buyer, we need to wait for the decision of big groups of ERA Divine Court High rise like IGNOU and Corporate Bank. If any body has further query, Vivek Gupta may be contacted.

[lalaraju]

This is really a very welcome development and needs to be welcomed by all the buyers of Divine Court.
We can only hope that they walk the talk. Only concern is that they may need to deploy some funds from their own to complement the buyers’ fund for uninterrupted construction.
Do they have enough funds to address those issues? I am raising this point because they have been giving unavailability of funds as an excuse for them being not able to commence full-fledged construction of 250 and 180 yds floors. I think buyers groups should request for detailed future plan from the company on how they plan to complete the project and give possession to each and every buyer.

[nsamant3]

If this happens it is really a great achievement. And if DGTCP is interfering then it is a sign that we will get our dream home soon.

[shubho]

Good plan, let us see how it would be executed and IF it would be executed. Few weeks ago, they said they would be returning money and then again few more weeks ago, they were ready to start construction.

Also, the other question is - What happens to the other towers? only towers A1, A2, B1 and B2 are mentioned!

[shubho]

I think with this new update, the owners of high rise should actually meetup. Please suggest a suitable weekend. We can also ask the Adel/Era officials to join and explain to all what all they are doing. The site manager Raj Tilak is either unavailable or is unwilling to answer questions.

[MOHITGOYAL]

Dear Friends,

I request you please always think first before getting excited....I can understand we all are suffering due to our investment in this...But are ready to dump further more money for the sake of one more fake commitment.

Even builder itself aware of its reputation, that's why we are invited to make payment to builder's creditor....

Can anyone answer one question...
Why today my Vivek Gupta AGM marketing ADEL himself ready to contact us Willingly. ..because till date even his junior my Priyank is not available to meet us even on our multiple requests...

Boss we are going to increase our problems further more if we show even little interest in these kind of offers of builder....everyone is monitoring this forum....

We should insist builder first it should at least start fulfilling its earlier commitments ...
Like till date whatever payment we have already done show the construction at least on that level...as most of us usuing construction linked plan. We will definitely make further payment but only based on construction status at mentioned in BUILDER BUYER AGREEMENT. ...

Its my personal veiws and experience with respect to ADEL team.

Regards,
Mohit Goyal

[MOHITGOYAL]

Dear Friends,

I request you please always think first before getting excited....I can understand we all are suffering due to our investment in this...But are ready to dump further more money for the sake of one more fake commitment. 

Even builder itself aware of its reputation, that's why we are invited to make payment to builder's creditor....

Can anyone answer one question...
Why today my Vivek Gupta AGM marketing ADEL himself ready to contact us Willingly. ..because till date even his junior my Priyank is not available to meet us even on our multiple requests...

Boss we are going to increase our problems further more if we show even little interest in these kind of offers of builder....everyone is monitoring this forum....


We should insist builder first it should at least start fulfilling its earlier commitments ...
Like till date whatever payment we have already done show the construction at least on that level...as most of us usuing construction linked plan. We will definitely make further payment but only based on construction status at mentioned in BUILDER BUYER AGREEMENT. ...

Its my personal veiws and experience with respect to ADEL team.

Regards,
Mohit Goyal

[lalaraju]

Thank you Mr. Goyal for alerting everyone.
I completely agree with your point. Mr Gupta’s words can’t be taken on its face value. His commitments have not been matched with action on the ground. Best example of this dichotomy is the present status of low rise flats itself in the society.
Last year company had started giving much delayed physical possession to 250 yds buyers. For this too a similar payment mechanism was implemented for all the buyers who had outstanding against their unit. Presently nearly 100 buyers have got possession of their units, of which nearly 50 are already residing in the society.
At the time of offering possession, it was committed by Mr. Gupta that all the residents will be provided all the basic facilities that residents need for their smooth living. But reality is in stark contrast to this.
All can see the condition of the society just by entering in this. Is this the luxury living that was promised at the time of launch of the society 6 years ago? Even the condition of EWS flats in other housing societies in Faridabad would be many times better.
There’s never a week that passes without troubles regarding some or other maintenance issues.
Most of the company staff have quit due to irregular or low payments of their salaries.
Biggest concern for the residents is the security arrangement in the society. The security services in the society have not yet been streamlined even though there are nearly 50 families including ladies, children and elders residing in the society. Current security arrangement can be best termed elephant’s tusks, just for show or ornamental values. Every fortnight, even they threaten to quit citing irregular payments by the company. Due to this all the residents are forced to live under a shadow of fear.
Despite all these issues residents have stayed put due to their financial or other compulsions, with a hope that there will be a brighter tomorrow. May be top management will have pity on the plight of all the families residing in the society.
I must confess, I am also one of them who has to experience all these troubles.
But still we would want more buyers to get possession and shift in the society, as we all know that numbers do matter and high numbers will definitely result in sea change in the status of divine court.
But still we would suggest that no commitments must be taken on its face value until the builder gives a detailed and concrete proposal.
I can suggest this on the basis of personal experiences of all the residents of the society. May one day all the buyers will get possession of their flats. An we all will reside in a society with all the luxurious amenities promised.

[daro285]

Please don't believe on Adel and HDFC Bank. They have impacted the personal life of most of the customers.