Aditya Kawatra, Apartment Resident
Q: Hi all, Just wondering if any owners here have received notification from IREO of the changes in transfer rules recently. They plan to allow transfers only till July end, post which the transfer charges are being unilaterally revised to a draconian 500 per sq ft for towers A and B! I would like to solicit views on whether such amendments are legal at all? Are builders allowed to set arbitrary transfer charges for under construction properties?

Latest Answer: Possession of the apartments has been offered now, with extra demand beyond Buyer's Agreement as follows: 1- About Rs. 5 lacs hidden and unexplained taxes etc, 2- Exorbitant compulsory club membership fees of Rs.5.75 lacs, limited for 20 yrs 3- Interest on advance payments according to scheme not adjusted in the demand note 4- No response to emails for explanation of above extra charges etc, leaving allotees furious but helpless 5- Buyer's Agreement signed by allotee covers Ireo to good enough to blackmail and force allottees to pay all above under the pressure of penalties and further loss, while Ireo using the tactics of time consuming by lack of response 6- Not allowing allottees to see their own apartment before all the demanded money is paid, so that they do not get chance to complain about quality of the apartment as compared to what was promised via videos/catalogs assuring so called "Modern Age Living" etc, which as reported by some is not even close to that in reality

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