GHAZIABAD: Scores of home buyers, who have bought flats in KM Residency in Rajnagar Extension, on Sunday staged a protest at Sihani Gate police station against the developer for delay of over two and half years in giving them possession of their property.
Of the 406 flats, around 300 have already been bought, home buyers said. On the other hand, the developer, SRB Promoters, claimed that the firm is facing a fund crunch, thereby failed to complete the project on time.
“The project was launched in 2011, and the developer had agreed to hand over the possession of flats, but even after two and half years, the project is far from complete. Several meetings were also held with the firm directors in this regard, but no positive outcome came out of it,” said Surendra Negi, a CRPF personnel, who had booked a three-bedroom flat in KM Residency.
The buyers said they have been pursuing the matter with the Ghaziabad Development Authority, Real Estate Regulatory Authority and other state authorities for early resolution of the issue over a year now. Even as several buyers have written to the prime minister and Uttar Pradesh chief minister highlighting the issue.
After lodging a complaint with the Sihani Gate police, the group of buyers also met senior superintendent of police (SSP) HN Singh, who assured them of action in the matter. The buyers were told to meet him after a week.
When contacted, Harendra Singh Khokhar, director of SRB Promoters, said, “Around 100 flats of this particular group housing society are unsold a present. The firm is facing a fund crunch and trying to get a bank loan. Almost 90% of the construction of the society is complete, and it will take just three-four months to complete the remaining work from the time we get the fund.”
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