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Chintels Paradiso resident welfare association in Gurgaon has asked the builder to revise and increase its offer rate for the buyback option, individuals present at a meeting said.
Days after Chintels India Pvt Ltd opened both the options for residents of five towers D, E, F, G and H, the RWA held a meeting on Sunday.
“We demand a revision of the offer rate for buyback. The existing offer was made about a year ago. There has been a substantial increase in market rates during the period, and the circle rates are also being revised,” the owners said.
Chintels India re-opened buyback option more than a year after a large portion of an apartment on the sixth floor of tower D in Chintels Paradiso society collapsed to the first floor in February 2022, killing two people and injuring another. Last month, four balconies of the same tower collapsed, but the tower was vacant.
The residents said that for option 2, the condition for Rs 1,000 per sqft should be scrapped. “They are not giving the same money in the buyback option, why doesn’t the same logic apply in both cases. The money should be as per the market price and enough to buy a flat in the same area. CIL already has the amount equivalent to the value of flats, so they should start construction and demand additional payment later,” said Vikram Gambhir, a Tower D resident.
He further said the amount due after the internal evaluation should be given to them before the demolition begins.
The RWA and owners further said they want the details of the construction company involved in the project. Moreover, they have also raised a demand that all owners want to be paid the interim rent in the proposal when the construction takes place.
“The CIL should present all details of reconstruction and approvals in writing. They should get approval from the district administration to shift the services from unsafe towers DEFGH to open areas of the safe towers ABCJ. CIL should share the shifting plan as well. Before the beginning of the demolition, the builder should give the guarantee bond to ABCJ owners if there is any mishap,” he said.
A CIL spokesperson said the compensation being offered is a fair market rate. “As of now, our earlier offers stand as presented to them. The owners who are still occupying unsafe towers should leave as soon as possible for their own safety,” he said.
According to the first option, Chintels will pay Rs 6,500 per sq ft, reimburse the actual stamp duty paid by the flat owners and reimburse the renovation cost as evaluated by the independent evaluators appointed by the government.
Chintels said option 2 is open only to Chintels Paradiso flat owners of towers D, E, F, G and H, who have not settled with Chintels by accepting the buyback offer.
“Flat owner shall pay to Chintels Rs 1,000 per sq ft in four instalments as 40 per cent at the start of construction, 30 per cent on completion of basic structure, 20 per cent on the application of OC and 10 per cent on the offer of possession,” Chintels said.
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