In an ongoing dispute between distraught homebuyers and Gayatri Hospitality & Realcon Ltd, a realty firm in Noida, the former claim that the latter has not so much as laid a brick in Gayatri Aura, a project it launched way back in 2011. The company has been booked for cheating, fraud, and forgery following a complaint by the flat owners.
Sunil Kumar, who represents a few buyers, told Business Standard that the realty firm was to build 1,500 homes for which it was 17.5 acres in Sector-1 of Noida Extension. “Each buyer has so far paid Rs 1.6 million (Rs 16 lakh). It’s been over seven years, and despite repeated meetings and promises by the developer, no construction has commenced…
Read the full article at: https://www.business-standard.com/article/companies/soon-it-will-be-easier-to-get-a-refund-if-your-builder-goes-bankrupt-118071000146_1.html
