Chintels: Builder withdraws offer of new flats, only buyback remains on table

Chintels India Limited, the developer of Chintels Paradiso apartments in Sector 109, on Monday withdrew the offer to reconstruct flats in towers D, E, F and G of the condominium, which were deemed unsafe for habitation by the district administration citing a lack of response to the offer from affected residents.

The developer on Monday sent a mail to homebuyers stating that due to a lack of response to the offer to reconstruct flats, the offer is being withdrawn and only the option of buyback of flats now remains available.

It may be recalled that in the last week of April this year, the developer had made two offers to flat owners. Under option one, it agreed to buy back the unsafe flats at the rate of 6,500 per square foot plus other charges as decided by the district committee.

Under option two, the developer agreed to reconstruct flats and offer them back to the original owners in three to four years after charging an additional 1,000 per square foot. Under option two, the develper would also not pay any rent to owners during period.

Four towers of Chintels Paradiso have been declared unsafe by the district administration on the recommendations of IIT-Delhi experts, who conducted the structural audit of these buildings. The audit was carried out after six floors of the Tower D collapsed partially on February 10, 2022, killing two women residents.

A letter by Rakesh Kumar, manager, legal Chintels, on Monday said, “We would like to inform you that we have withdrawn our option 2 which had been included at the request of some of the flat owners. Since not a single person has so far accepted the terms of our option 2, we have decided to withdraw that offer.”

The developer further said that presently only option 1 is open, under terms were decided in the meeting between all stakeholders and the district administration. The letter said the developer will be ready to entertain more flat owners who are ready to accept the first offer and full and final payments will be made on a “first come first served” basis.

The flat owners and the residents’ welfare association opposed the move and said this was an arbitrary decision and should not be implemented. The buyers said this matter is sub judice in the court and the developer should not impose its decision on them.

Rakesh Hooda, president, Chintels Paradiso RWA, said option 2 was not viable for flat owners as 1,000 per square foot had to be paid for construction and entailed a waiting period of 3-4 years. “The district administration and Chintels should come up with an option wherein the additional payment is waived and timebound possession is ensured,” he said.

The home owners also said this move was meant to arm twist the owners to take the first option. “The buyers want the developer to pay rent to them during the waiting period,” said Sandeep Barsaiyan, another owner.

When asked about the development, a Chintels spokesperson said, lack of response from apartment owners and the various uncertainties regarding approvals, timelines and, most importantly, uncertainty about the future course of the company, prompted the latest letter.