17 housing projects cancelled in Greater Noida, 5 developers affected

In the Housing Society proposed by Yamuna Expressway, 1,400 investors had booked flat in 2012-13. Since then, 5 years have passed, but like all the NCR projects, it has also been stuck and investors are now required to prepare a legal battle for refund. These investors do not have the option of waiting for the flats to be ready as this project has never started and the builder has withdrawn.

We are talking about the Sun World Builder’s Project i.e. Vandita project. Nearly 39 buyers who have been tempted to flat in this society have now moved to the National Consumer Forum to get their money back. Buyers claims that this project of Sun World Builder, located in Sector 22 D at Yamuna Expressway in Greater Noida, was withdrawn by the builder last year, but no refund has been received so far. The cheques issued by the builder to the buyers for refunds have been bounced. Every investor is trapped between Rs 6.5 lakh (Rupees Six Lakhs and fifty thousand Only) and Rs 8.5 lakh (Rupees Eight Lakhs and fifty thousand Only). However, the developer says that he has returned his money to 75% of the buyers.

Bounced checks issued by promoter

The Yamuna Express-Way Industrial Development Authority says that SunWorld Builder purchased 104 acres of land in 2010 for Vandita Project and deposited Rs 100 crore for it. Sunworld says that only 65 per cent of the land needed was provided by the Yamuna Expressway Authority, which was also given in pieces, due to which the project did not get permissible.

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