More than a hundred allottees of the Expressway Towers affordable housing project in Sector 109 by Ocean Seven Buildtech (OSB) staged a protest at Haryana RERA office against the developer. They demanded early completion of the project, citing the developer’s failure to comply with the terms and conditions of the license issued for the project. The allottees, who have been demanding action against the developer for the past two years, highlighted their grievances regarding the project’s delay.
The developer, which was granted licenses in 2016, 2018, and 2019 for three affordable housing projects, was given an opportunity by the H-Rera(Haryana Real Estate Regulatory Authority) bench to explain its intentions for project completion and plans to secure fresh funds. The developer stated its intention to complete the project but mentioned the need for additional funds, as they are yet to receive the last installment from multiple homebuyers. They attributed the fund crisis to the freezing of accounts with H-Rera.
In response, the allottees suggested that the authority keep track of accounts to prevent misuse of funds by the builder. They also requested that funds be released only when assured of the construction status at the site. The H-Rera chairman expressed optimism about the project’s viability and suggested resolving mistrust with buyers. He proposed allowing the builder to sell enough units in the commercial part to raise additional funds needed to complete the project.
H-Rera Gurgaon chief Arun Kumar described the meeting as cordial, with a focus on resolving the issue. He emphasized the project’s strong fundamentals and its potential for completion. Kumar suggested the formation of a joint working group involving promoters and allottees to finalize a roadmap for project execution, indicating a mutual interest in resolving the matter amicably.
Read more: Gurugram Homebuyers Seek Justice: Meet Haryana RERA Chairman Over Stalled Projects
