Gurgaon One flat buyers protest against rise in final instalment by three times
Around 100 buyers of flats in the Gurgaon One project in Sector 84 assembled at the office of the developer, Alpha Corp Development Private Limited on Tuesday morning, after the developer increased the final instalment amount for the house purchase by three times. The project, situated off Kherki Daula, has around 700 flats. The homebuyers received a letter from the developer on October 13, stating the project had received occupation certificate from authorities, and asked buyers to pay up the final instalment for taking the possession. According to buyers, the amount mentioned was three times more than what is mentioned in the original agreement.
The developer said the escalation is partly due to increase in built-up area and partly due to increase in cost of input material. Regarding the increase in built-up area, buyers lamented the increase is not in carpet area, and thus does not benefit them. It is especially traumatic for buyers who have taken a home loan, as banks have declined to release the extra amount without being given a break-up of the hike.
Alpha Corp officials said, “The company had complied with all aspects of the apartment buyer’s agreement, and hiked the final instalment accordingly.” He added they have addressed all concerns of customers regarding the hike, by sharing relevant calculations and plans in a transparent manner.