Issue in the DLF NewTown project... delay in project delivery till Dec'13, case of getting approval from BBMP, illegal higher floors, land dispute, connectivity issue, etc
Q: The DLF NewTown project is already delayed by a year and not sure if they would be able to deliver the by Dec'13 as they are promising now. There are few queries which I was looking for an answer which are based on: 1. There is a news that the BBMP personal was bribed to get necessary approvals for higher floors which infact is illegal 2. There is a case for the illegal approval for road widening which may hinder the expansion of road connecting to Hosur Road 3. The area around has appreciated so this is property would not be giving higher returns.
Now, is point 1 and 2 correct as this information was fetched from The Hindu newspaper? If true what would be affect on investment? If 1 and 2 is not correct then how good is this property from investment (first time buyer) and what would be current expected per sq.ft rate?
http://www.cci.gov.in/May2011/OrderOfCommission/DLFMainOrder110811.pdf The order applies to our case as well. We stand to benefit as the delay payment @ Rs 5/ sft is not admissible and would be equal to delay interest payment. The applicability of the order has been summarised by CCI chairman Mr Ashok Chawla to business standard that would extended to all buiders and buyers. We need to seek changes to ABA as has been admitted. DLF had challenged the CCI order in the COMPAT (Competition Appellate Tribunal) and the appeal has been rejected in Jan 2013. The ABA should have been changed since. Many clauses which put DLF in dominant position has been changed through the order. For info of all buyers. Let us not frown over delay.. Let DLF face the music.
I have made multiple attempts to get answers from DLF but failed. Nobody from DLF seems to be responsible for owners investment in the project. a) No Genuine reason for project delay by 2.5 Years. b) Every time I inquire about the project completion, I get the same answer that the tiling work is in progress and it will be completed in 2~3 months. This same answer I am hearing since last 5 months. c) DLF has applied for OC for D1/D2 block in Jan'14 for which DLF mentions the OC has not been received due to elections (as if Govt. Departments stopped working in Jan itself) - seems fishy. They turned down the request to show documentary evidence of its pending with BBMP. d) No information was provided regarding the updated project completion timelines & Club House. So we can be assured of another 1 year delay (approx). e) DLF is blunt in asking us to go legal f) Delay penalty of Rs. 5/- per sqft is too less when currently rentals for similar project range around 13~15 per sqft
Dear residents- I recently visited the property and they told me that pone phase is being given possession from May onwards and the other would start from Aug-Sep. Is that correct? I am looking to invest in this project but has been cautioned by a few friends of mine. Would appreciate if some one can share the updated status on various issues with this project. Thanks in advance.
As many as 120 owners met the DLF Bangalore mgmnt on 03rd Aug. 2013, where all of their demands were brushed aside by the DLF and the customers were openly challenged to do whatever they can. Even the letter signed by all the owners, where the demands were written was not accepted/ received by DLF management. I tried to attach the protest pic, but looks like the forum does not allow this…. More protests are to follow…
As you said that the news was flashed in the news paper, so I think the news is true. It is going affect on investment because the approvals for higher floors and illegal approval for road widening are done illegally.