Straight Edge Contracts Pvt Ltd to complete pending projects of Lotus

Straight Edge Contracts Pvt Ltd to complete pending projects of Lotus
02/12/2017 , by , in News/Views

Straight Edge Contracts Pvt Ltd, a sister concern of Gulshan Homz, has confirmed that it is working towards completion of the pending apartments of The 3C Company under the ‘Lotus’ brand name.

The two projects which Straight Edge is likely to intervene for completion are Lotus Panache at Sector 110 and Lotus Zing at Sector 168. Lotus group has completed its Lotus Boulevard Espacia project at Sector 100 and the project is in the last stages of finishing. Lotus 300, a project at Sector 107, hasn’t been started so far.

“Gulshan Homz is not involved with this. Straight Edge is a sister concern and they are working towards the completion of the pending projects of Lotus,” Deepak Kapoor, director, Gulshan Homz told.

Lotus, through the brand name Lotus Greens has entered two collaborations with Tata Housing and Godrej for individual projects in Noida in 2016. However, its earlier projects are still at various stages of incompletion. Among these are Lotus Zing at sector 168 that has 16 towers of which only four have been completed. The buyers have come to an agreement with the builder on completion of the project through an escrow account. Lotus 300 is at sector 107, the construction for which has not started yet. Lotus Panache, a project at Sector 110 of 4000 apartments, has only 700 completed apartments so far. Of these 300 have been handed over and people are residing without occupancy certificates (OC).

Meanwhile, the buyers of various projects of Lotus have called for a mass protest on January 8 on the issue of inordinate delays by the builder in delivering the projects.

“In the RERA forms, the completion date has been written as year 2022. Most of these projects are already delayed by four to five years. So this means the buyers would have to wait for another four or five years for their houses,” Sushil Kumar, general secretary, Lotus Panache Buyers’ Association said. Panache buyers have filed a case against the builder at the NCDRC on October 25.

They have demanded an immediate commencement of construction, 18% delay penalty among other things. As per the buyers, out of 30 towers at Panache only 9 are completed and possession given to buyers. Out of the 9 completed towers, three have been given possession without occupancy certificates.

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