NBCC to settle with home buyers of NBCC Green View

NEW DELHI: NBCC (India) has decided to settle with home buyers of its project-NBCC Green View Apartment in Sector 37D, Gurugram, the company said in a BSE filing.

“…with respect to NBCC Green View Apartment” at Sector 37D, Gurugram, it is hereby informed that the company has decided to settle with all the homebuyers/allottees by way of buy-back of their flats/units and to do all such acts, deeds and things, necessary, incidental & ancillary to give effect to the same,” it said in the regulatory filing.

Launched in 2010, the project is spread across 18 acres. The construction work started in 2012 and the project was to be delivered in 2015 but possession of flats started in August 2017. The society has 923 flats and so far, 260 flats have been sold. In October 2021, IIT-Delhi team had carried out a structural survey after residents noticed cracks in the buildings.

The developer then issued three vacation notices, citing repairs and retrofitting reasons. However at the time, residents had objected to the same, demanded refund and strict action against the builder.

In February 2022, city government officials after visiting the society and holding talks with homebuyers and builder, had decided to demolish the project and had asked residents to vacate the buildings by March 1. RS Batth was appointed as the nodal officer and duty magistrate to supervise the entire process of project’s handover to the developer for carrying out repair work.

NBCC was asked to provide alternate accommodation to the residents or rent for those willing to move to flats of their choice until they were given the refund with interest. The company in March 2022, challenged the refund part of the order stating that they never gave any consent to refund the residents and the order was outside the Disaster Management Act and requested city officials to modify the order.

In a press conference in March 2022, home buyers association had said that they had written to both CBI and Enforcement Directorate (ED) to investigate how the project became unviable and unsafe within four years of completion.

The buyers had also said that they have been demanding refund for a long time at 15 per cent interest on their investment and minimum compensation of Rs 25 lakh. City officials assured homebuyers of refund and that the process would start in April.

NBCC at the time had said that they are considering it. In April 2022, department of town and country planning (DTCP) had asked NBCC to decide on refund within 30 days.