Forming Flat Owners Association

Q: I represent the Buyers of Paramount Floraville a project in Sector 137 in Noida.

I am writing this letter as we are facing huge difficulties with paramount due to their erratic behaviour and lack of transparency.

We as a group of 25 people met with the Builder today 14th of June 2014.

The result was not very fruitful.
We residents want to form a Flat Owners Association so that we represent the whole group of buyers.

I was going through the UP Apartment Act 2010 and found that an association can be formed only when Builder has given possession of flats and received Letter of Clearance from Noida Authority.

Request your guidance in dealing with the same.

My queries are:

1. Can we form an association now.
2. What are the pre-requisites for forming an association.
3. Is it possible to form some legal entity to represent the Buyers.

dhiraj kaushik,

14th June 2014

Legal in Paramount Floraville, Sector-137, Noida

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Replies (7)

We are also facing the same issue. following is number 9818130992. We can discuss

vishal mehta,

7th November 2016

Comment

Paramount floraville are harassing to the end buyer. they are cheating to the customers charging undue interest. if buyer goes to their office. they do not even bother to meet the dealing person. they have kept bouncers in his office. interest will be charged if you have any complaint go to legal.
do not buy in paramount. many complaints about problems at the time of possession.

manish gupta,

28th October 2015

Comment

Hi Guys,
I am keen to invest on this project. I want to know about the super flexi payment plan. What are the advantages & disadvantages of flexi payment plan ? Kindly share some information.

Saran, Noida

10th August 2015

Comment

Hi Saran,
As per my knowledge, the advantages of Flexi payment plan is builder offers discount for such plans. It may be little cheaper than construction link payment plan. In flexi payment plan ,buyer is paying nearly half of the payment upfront, so buyer gets approx (5%) discount on BSP of property.

Mukhesh, Noida

10th August 2015

That is right Mukhesh. However there are many risks involved in this payment plan. Suppose buyer booked a unit in a new launch project, then it is kind of difficult to recover the money ,if project showed some issues after booking. Not only this much risk, but also buyer has to pay huge interest on approx 50% of amount,in first year. That is why flexi plan are costlier than construction link payment plan.

Geeta, Noida

10th August 2015

Hey Saran,
The super flexi payment plan of Paramount Floraville is like: - On booking- 10%,
Within 30days from the booking- 15%,
Within 9 months from the date of booking OR on offer of possession- 75%+IFMS.

Sangam, Noida

10th August 2015

I wish to join the Commonfloor Group, of Paramount Floraville, Noida

Rakesh Anand, Mumbai

26th July 2015

Comment

Hi Rakesh,
Are you a resident of this Paramount Floraville, then only you can join the group.

CommonfloorAdmin,

30th July 2015

You can join the Commonfloor Group, of Paramount Floraville, Noida by clicking on this link
Paramount Floraville, Noida and http://groups.commonfloor.com/ to get in touch with other owners who have already booked a flat in this project and discuss about the same.

Commonfloor.com's apartment management software is absolutely free of coast, Anti spam and provides complete data security and privacy (http://www.commonfloor.com/apartment-communities/pricing).
To find the benefits of joining the software please find this link (http://www.commonfloor.com/apartment-communities/benefits-owners)

Already 1 lakh apartment society are using Commonfloor Groups to bridge the gap of communication among the owners and MC (Management Committee)
(http://businesswireindia.com/news/news-details/commonfloorcom-launches-commonfloor-groups/38909)

Mahinder, Noida

16th June 2014

Comment

Hi,

Unfortunately above mentioned articles are not helpful as they are for Delhi and Karnataka. Our project is in Noida and here UP Apartment ACT 2010 has been implemented.

dhiraj kaushik,

16th June 2014

Comment