Chennai: Customers who have booked flats in New Town Heights project, being developed by country’s largest real estate developer DLF Ltd, at Gurgaon, near Delhi, is planning to take Gandhigiri route to show their “disappointment” in executing the project. Around 200-300 DLF’s customers are expected to gather at DLF’s office tomorrow and planning to give out roses along with the exit letters to the company.

Meanwhile the company which is facing similar problem from its Chennai customers on the Garden City project has agreed to pay back the booking amount to its customers between April 30 and September 30, 2009 for those who have given exit letters so far.

The Gurgaon group, which consists of around 700 customers who have booked flats in New Town Heights project at Gurgaon, are planning to go with bouquets of flowers with exit letters to DLF’s office on Saturday, said a core member of the group who don’t want to be identified.

He noted, a recent poll among the members showed that over 70 per cent of them are wanted their money to be refunded since the company has not started any construction work at the project site. The member noted most of the customers paid around 42.5 per cent of the total money.

New Town Heights, a residential project of DLF at Gurgaon, was launched in March last year as a mid-range housing project with apartments selling in the Rs45-75 lakh range. The project has around 3,300 apartments, of which around 90 per cent have been sold.

DLF on March 25 announced a price cut of 20 per cent for apartments in the New Town Heights project, for both existing as well as new customers. “But the discount is comes with conditions and it is not allowing us to exit at a future date”, said another member.

The company also said compensation has been doubled, from Rs 5 psft per month to Rs 10 psft per month. Handing over has been revised with retrospective effect, for 3 years from the date of booking instead of 3 Years from the date of Agreement, a 35 per cent of the Sale Price, has been treated as payment dues as against 42.5 per cent or more whatever was due as per different Sectors.

Also 20 per cent discount was offered including Basic Sale Price (BSP) 5 per cent Decrease in cost by way of increase in area by 5 per cent, without any charges for that 5 per cent area increase. 10 per cent timely payment rebate on the Sale Value (excluding government charges)

The member added, the core member committee met the company officials including its Executive Director Valsala and General Manager Customer Support Deepak Kapoor on February 21, “but company’s response was poor”.

Meanwhile when Business Standard contacted company officials were not reachable.

However a mail which has been sent out to the customers by Valsala , copy of which is available with Business Standard, stated that “we have done our best by doing all the above, to keep you happy and satisfied in the project and are also doing our best to start the construction within a month’s time positively. Despite all the above, if you are still not happy to continue, you may exercise the EXIT OPTION”.

Meanwhile the company has decided to return booking amounts in full to all customers who want to exit the under-development project. According to a member of the committee, in Chennai project, the company has sent a letter saying it would repay the money between April and September 2009 for the customers who have given exit letters between February 18 and April 9 based on the order of exit letters received by DLF. He noted 560 customers have exit letters.

DLF Garden City, launched in January 2008, has around 3,493 apartments and was priced between Rs 31 lakh and Rs 39 lakh, but the company has slashed prices by 10-18 per cent.

Source: Msn

Tags: bse, DLF, money back, nse

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