Chintels India reopens buyback option for Paradiso flatowners in five towers

GURUGRAM: The developer of Chintels Paradiso has offered a 15-day buyback option to flatowners in five towers of the apartment complex, where several towers were declared unsafe for habitation in an IITDelhi structural audit.
Four balconies of Tower D collapsed on November 9. No casualty was reported in the incident as the tower was vacant and its surroundings cordoned off after a partial collapse of six floors claimed two lives in February 2022. The developer has written to the residents’ welfare society and the district administration regarding the buyback offer and urged the flatowners to take it up

It has also made it clear that the offer is valid only for those flatowners whose settlement is yet to be done.
Chintels said in the letter that it has “decided to reopen the buyback offer for another 15 days ie up to
December 20”. It has given the flatowners of Phase I Towers D, E, F, G and H two options — Chintels has offered to pay
Rs 6,500 per square feet for the apartments and reimburse the actual stamp duty paid. It will also reimburse the cost of renovation, as evaluated by independent evaluators appointed by the government.
This is the final extension and no more applications will be entertained after December 20, Chintels said
in the letter.

It has also made it clear that the offer is valid only for those flatowners whose settlement is yet to be done.
Chintels said in the letter that it has “decided to reopen the buyback offer for another 15 days ie up to
December 20”. It has given the flatowners of Phase I Towers D, E, F, G and H two options — Chintels has offered to pay
Rs 6,500 per square feet for the apartments and reimburse the actual stamp duty paid. It will also
reimburse the cost of renovation, as evaluated by independent evaluators appointed by the government.
This is the final extension and no more applications will be entertained after December 20, Chintels said in the letter.

Towers D, E, F, G, and H of the society located in Sector 109 were declared unsafe for habitation in a
structural audit by IIT-Delhi after the February 2022 collapse. The society has nine towers.
Of the 288 flats in these five towers, owners of 140 demanded Rs 6,500 per square feet from the builder
and agreed to take the money. Settlement has still not been reached with 148 flatowners.