GURUGRAM: A week after Chintels India — the developer of Paradiso housing society — extended buyback and reconstruction of flats, the residential welfare association (RWA) has written to the company demanding revaluation and extension of the offer to all homeowners in both phases of the project.
The association has said flat owners are not ready to pay the fee of Rs 1,000 per sq ft for rebuilding the towers as offered by the developer. For reconstruction of flats, the flat owners who have not accepted buyback option will have to pay Rs 1,000 per sq ft in four instalments — 40% at the start of construction, 30% on completion of basic structure, 20% while applying for occupation certificates (OCs) and remaining 10% before possession.
The RWA also objected to the builder’s plan to use the maximum permissible floor area ratio (FAR), including that of purchasable, butsaid it is open to negotiation.
While extending the offer, Chintels had said it would pay an amount of Rs 6,500 per sq ft as compensation, but RWA demanded valuation be conducted again and methodology be shared with residents.
The realtor further said reconstruction offer is open only to flat owners of towers D, E, F, G and H, who have refused to accept the buyback offer. The association, however, said the offer should be extended to flat owners of all towers.
The company had agreed to complete the project in 42 months with a grace period of six months from the date of beginning of construction, which the RWA agreed to but demanded the timelines finalised be strictly adhered to.
RWA members said the district administration should provide required support for early approvals and completion of the project.
The developer had agreed to pay rent to flat owners from the date of beginning of construction till possession of units. However, RWA demanded the rent be paid from the date of vacating the houses with the shifting charges.
A Chintels India spokesperson, “We are in talks with flat owners over the offers extended to them. Their interests are being factored in”.
Earlier, in a letter to Paradiso RWA, the realtor had said, “Although considering the IIT reports, Chintels is under no obligation to either reconstruct the four towers or offer any buyback option… but we have still decided to get a feedback from all flat owners of phase 2 to ascertain how many people are interested in either of the two options extended to owners of flats in phase 1”.
