PAN Oasis Home Buyers protest over irregularities against builder in Noida

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Published: March 24, 2018 6:16:35 PM

Launched in 2009, the PAN Oasis residential area in Noida, comprises of 2200 flats which are partially completed. Since 2015, residents have been moving in based on the completion of their flats.

A group of over 100 residents of PAN OASIS, Sector-70, Noida staged a protest on Saturday.

A group of over 100 residents of PAN OASIS, Sector-70, Noida staged a protest on Saturday and took to the streets with women and children to protest against various issues against the builders, PAN Realtors Pvt Ltd. The peaceful march saw support from home buyers residing in Sector 70. One of the major issues highlighted by the buyers has been the outstanding amount of Rs 131 crores that the home buyers stated has to be paid by the builders to the NOIDA Authority. The information relating to the huge outstanding amount surfaced in response to an RTI application by one of the residents. The entire project has about 2200 flats, out of which about 1800 flats have already been sold. However, the protesting home buyers have alleged that the builder has deposited only about 123 crores with the Noida Authority.

The apprehension of the buyers stems from how the builder will deposit the remaining amount of Rs 131 crores from the sale of the balance flats. For home buyers who have already moved in, this poses a serious concern and their worry is that the builder may, after getting a temporary OC and starting registration, abandon the project altogether. In such a case, the entire burden of clearing the outstanding amounts due to the NOIDA authority would fall squarely upon the flat owners, most of whom have already paid the said amounts to the builders. Other issues that home buyers have raised relate to the lack of information regarding the status of Occupancy Certificate, non-registry of any of the flats that are presently being occupied by the buyers on purely fit out basis. Following the protest, sources at PAN Oasis told FE Online that as a result of the said protest, the builder, PAN Oasis Realtors Pvt Ltd has agreed to a meeting with the PAN Oasis home buyers on all the issues they have raised within the next 15 days.

Rahul Kumar, member of POORWA (PAN OASIS Owners Residents Welfare Association) told FE Online, “We have repeatedly pointed out to the builder our key concerns as home buyers. The issues we have raised include poor maintenance, lack of any amenities be it for the senior citizens or for the children, seepage issues, non-allocation of parking slots, non-functional swimming pool and club, notional increase in the super area, lease rent issues, among others. None of these have been addressed till now and we have been waiting for a response after relentless efforts to get the builders to resolve this. We feel cheated as home buyers.”

Launched in 2009, the PAN Oasis residential area in Noida, comprises of 2200 flats which are partially completed. Since 2015, residents have been moving in based on the completion of their flats. On Saturday, home buyers along with children raised slogans against the builder for not honouring their contractual obligations to the buyers.

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