Submit :
News                      Photos                     Just In                     Debate Topic                     Latest News                    Articles                    Local News                    Blog Posts                     Pictures                    Reviews                    Recipes                    
Read all Latest News and Updates from Gurgaon
DLF in trouble over compensation charges by DLF property owners
Property owners at DLF Belaire, Park Place and Magnolias might finally get what they want from DLF after their years long feud. The owners have been fighting against the company for the past four years and are now thinking of filing for compensation, which would run into crores of rupees.

The Competition Commission of India in 2011 had slapped a Rs 630-crore penalty on the builders for abusing their power against the owners. The builder had pleaded against it but the owners are not taking this plea into consideration. The builder has been asked to pay 7 percent for its annual turnover, along with an interest of 9 percent since the original order. However, they are not concerned and said that they would contest it in Supreme Court.

The complaints were filed by Park Place Residents' Welfare Association and Belaire Owners Association in 2010 at CCI. They filed for compensation for delay in construction, levy of parking charges and building an extra floor, which led to the downsizing of the common area. A total of 50 lakhs per apartment were asked for compensation.

Vaibhav Gaggar, partner at law firm Gaggar & Associates, who was representing the buyers associations against DLF, said, ''Considering the valuation today and the clear reduction in the area, as well as quality being offered to allottees, compensation claims should be higher than Rs 50 lakh per apartment.''

Email Id
Verification Code
Email me on reply to my comment
Email me when other CJs comment on this article
Sign in to set your preference
merinews for RTI activists

Not finding what you are looking for? Search here.