Insensitivity towards homebuyers by IIDL, no sign of flats even after paying 95% cost

Angry over the delay in getting possession of flats under IFCI subsidiary IIDLs housing project “21st Milestone Residency” Ghaziabad. The homebuyers alleged that they have paid 95% of total flat cost to IIDL, but their residences were not ready to move in.



Amit Pandey, one of the buyer in tête-à-tête with News24online:


I booked my flat in IFCI Infrastructure Development Ltd project in Ghaziabad on 17-Nov-2011. The expected date of completion was Dec-2012, so far no clarity on when project is going to complete I have paid 95 per cent of amount (27 Lac approx) to IIDL at time of booking however still waiting for possession I am now helpless as major portion of my salary goes in rent and EMI of Housing loan.


Like a truthful citizen of India I have been writing to all possible sources i.e Ministry of Finance, IFCI, IIDL, PMO however we have not got any substantial resolution of matter 3 IFCI director, Mr Mallay Mukherjee was approached by Letter and call to his office various time however he never gave us personal appointment nor the resolution of the matter.


IIDL is fully owned subsidiary I have noticed that they have changed the MD so frequently so that none of the MD can be help accountable i.e. especially last MD Mr Shamik Das Gupta and Mayur Gautam has not even had courtesy to have a meeting with buyers to communicate the exact status of site.


Apart from Possession there were many design changes done in the project without having proper approval This need investigation.


There is delay of approximately 5 years now, they have given multiple dates of Possession like 2014, 2015, 2016 and now 30-Apr-2017 (IIDL has missed this date as well).


As per agreement they will be paying delay penalty for maximum of 1 year irrespective of years of delays Which IIDL is exploiting as a tool as they don't have to pay penalty over an year. No plan to compensate the Buyers even after 5 years.


As on today's meeting, there is Fire NOC and Environment NOC is still pending, also no clarity about by when it is going to be available. I am in deep mental and financial trouble due to infinite delay of project.


He said that the government should focus on the issue as homebuyers who have paid hard-earned money for flats are still waiting to take possession.