Chintels group ready to buyback flats or redevelop three unsafe Paradiso towers

NEW DELHI: Realty firm Chintels group has offered to buyback about 180 flats from homebuyers of
three towers of its project in Gurugram as they have been declared unsafe after a partial collapse last year.
In February last year, a partial collapse of a residential tower in Chintels Paradiso project led to death of two women. The CBI has taken over the investigation into the partial collapse of the Chintels Paradiso project, located in Sector 109, Gurugram. The Supreme Court is also hearing the plea of residents seeking compensation and action against developer.
In a letter to Gurugram Deputy Commissioner (DC) and the Director General of Town and Country Planning, Haryana, Chintels India has given two options to affected homebuyers

The first option is that the company will buyback flats in Tower D, E and F at Rs 6,500 per square feet
(super area). It will also refund the actual stamp duty paid by the flat owners.
The other option offered by Chintels India is that the company will repair and/or rebuild these three
towers.
However, it has sought Rs 1,000 per square feet (super area) from allottes if there is any need to redevelop
any tower.
In the letter dated April 21, Chintels has said that it will not pay rentals to residents of tower D from April
30 for alternative accommodation.
“Since a large number of flat owners expressed their desire to continue to stay in the project, so in option
two, we are willing to get the property repaired and/or re-built by some reputed contractor, as per the
technical requirements recommended by CSIR-CBRI, and hand over possession within 36 months from the date of receipt of all necessary approvals and removal of any other hurdles in going ahead with the construction,” Chintels said in the letter.

To honour these two options, Chintels however said in the letter that these three towers should be handed
over to the company soon and all restrictions on registrations of sale deeds of all its projects be removed.
J N Yadav, Senior VP, Chintels, said in a statement, “As the well-being of our customers is of utmost
importance to us, we have given these two options and we are confident that many of the residents will be
satisfied.”
The rate offered by the company is higher than the prevailing market rate of several similar projects in the
vicinity, Yadav said.
“We understand the difficulties and uncertainty that was faced by residents following the incident and
hope that this will satisfy them and restore their faith in our commitment to give them a safe and secure
home,” Yadav said.