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NBCC to refund money with interest to Green View society buyers, Real Estate News, ET RealEstate

NBCC to refund money with interest to Green View society buyers, Real Estate News, ET RealEstate
NEW DELHI: NBCC will be refunding the money paid by flat owners in its housing society, NBCC Green View in Gurugram, along with interest as the company has asked the residents to vacate the premises for safety reasons.

This was stated by NBCC chairman Pawan Kumar Gupta. However, the interest rate is yet to be decided by the company’s board of directors.

The housing society has 786 flats in 12 14-storey towers that were partially completed in May 2017 and delivered to buyers. However, within two years of completion, the buildings, including their pillars and beams, started developing cracks.

IIT-Delhi, which was appointed to conduct a structural audit by Union ministry of housing and urban affairs, in its final report on November 18 said the buildings were unsafe and required major retrofitting. It found substandard material in construction and faulty drawings of the structures. Following this, the company asked the residents to vacate their flats.

The residents’ association has asked for additional compensation for mental torture and physical hardship endured by them in the last two years by staying in the shoddily constructed project. Besides, the residents said prices in the locality had doubled since 2011, when they had booked their flats. The association has asked for adequate compensation for them to buy another house.

G Mohanty, president, Association of Apartment Owners, said most residents were retired from the central government and had bought the flats thinking as they were being constructed by a Navratna company, they would be safe.

“We thought we would live a peaceful post-retirement life, but that has been belied due to omissions and commissions by NBCC and we have been subjected to untold misery,” said Mohanty, who retired as director general, Directorate of Advertising and Visual Publicity, and was also a former CBI spokesperson.

Gupta said the board of directors would soon take a final view on the compensation, including interest. Meanwhile, as an interim arrangement, NBCC is ready to pay house rentals for residents to shift out immediately.

A survey is also being conducted to ascertain the additional expenditure incurred by the residents in doing the interiors of their flats before shifting there. The company would refund even this cost.

The residents were given the first vacation notice on October 3. A second notice was sent on October 13 to vacate the homes by November 10. However, many residents didn’t vacate the flats as they couldn’t find suitable accommodation.


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