Registry ban imposed on Chintels after Paradiso cave-in now lifted

GURUGRAM: In a move that is likely to speed up the compensation process for flat owners of towers D,
E and F of Chintels Paradiso, the panel constituted to discuss issues pertaining to these three buildings has
revoked the ban on registries of properties owned by the developer.
The developer, Chintels India, had earlier claimed it is facing a fund crunch as it has been paying rentals
to the affected flat owners of the Sector 109 society for several months.
On February 20 last year, deputy commissioner Nishant Yadav had ordered that registration of sale deeds
of all projects of the developer be stopped till further notice after two residents were killed in a cave-in of
five flats at Paradiso. Other projects of the developer include Chintels Serenity, Chintels Corporate Park, Sobha City, International City and ATS Kocoon.

In a letter to Yadav last year, the developer had claimed that its cash flow has completely dried up due to
the “unfair” freeze on the registration of its properties, which is affecting its ability to make any definite
financial commitments. In its letter, the developer said it would be unable to continue to pay rents for the
families that have relocated, which is costing it over Rs 20 lakh every month.
In a meeting held recently, the panel – which is chaired by Yadav – discussed the matter with senior officials from the DTCP and police. According to the minutes of the meeting, the developer requested that
the ban be revoked as it has given its consent to the district administration’s proposal for compensation
and is willing to execute it in the time frame fixed by the authorities

The developer, Chintels India, recently gave what it claimed was a “final offer” to residents of these three
towers to opt for compensation or get their flats repaired or rebuilt. If a homeowner chooses the flat
buyback option, Chintels will pay the cost of the flat (at Rs 6,500/sqft), and refund stamp duty along with
the cost of interior work carried out in the house. For rebuilding, it has asked flat owners to pay Rs 1,000
per sqft, which some of them have opposed.
Later in the meeting, the panel directed officials that residents of towers E and F of the society vacate the
premises immediately, as the structures are unfit for living. “The panel chairman also directed district
town planner (enforcement) to pass a work order for the valuation of interiors of flats in these two towers,” an official said.
Meanwhile, residents said the authorities should allow registries only till the developer collects the amount required to pay compensation and rent to the affected flat owners. A spokesperson for the developer said: “We are thankful to the authorities, who have finally accepted our
request and revoked the ban on registries of our projects. All parties will benefit now as we will be able to
fulfil our commitments of the buyback offer. We also thank our customers, who have stood with us in this time of difficulty”