Abhi, Apartment Resident
Posted Discussions
Posted Replies

Issue in the DLF NewTown project... delay in project delivery till Dec'13, case of getting approval from BBMP, illegal higher floors, land dispute, connectivity issue, etc
Q: The DLF NewTown project is already delayed by a year and not sure if they would be able to deliver the by Dec'13 as they are promising now. There are few queries which I was looking for an answer which are based on: 1. There is a news that the BBMP personal was bribed to get necessary approvals for higher floors which infact is illegal 2. There is a case for the illegal approval for road widening which may hinder the expansion of road connecting to Hosur Road 3. The area around has appreciated so this is property would not be giving higher returns. Now, is point 1 and 2 correct as this information was fetched from The Hindu newspaper? If true what would be affect on investment? If 1 and 2 is not correct then how good is this property from investment (first time buyer) and what would be current expected per sq.ft rate?

Latest Answer: http://www.cci.gov.in/May2011/OrderOfCommission/DLFMainOrder110811.pdf The order applies to our case as well. We stand to benefit as the delay payment @ Rs 5/ sft is not admissible and would be equal to delay interest payment. The applicability of the order has been summarised by CCI chairman Mr Ashok Chawla to business standard that would extended to all buiders and buyers. We need to seek changes to ABA as has been admitted. DLF had challenged the CCI order in the COMPAT (Competition Appellate Tribunal) and the appeal has been rejected in Jan 2013. The ABA should have been changed since. Many clauses which put DLF in dominant position has been changed through the order. For info of all buyers. Let us not frown over delay.. Let DLF face the music.

Ask a Question
120 Characters Left





    Trending Categories

    CommonFloor Property Search Mobile App now available on Android, iOS and Windows!