FROM outside, Greenopolis in Gurgaon's Sector 89 looks like finished upscale housing complex - cluster of buildings, balconies fitted with glass railings and AC units. But few metres past these, picture changes. Behind long, unplastered boundary wall, much of complex is ghost town. Windowless towers stand frozen mid-construction.
For around 1,300 homebuyers caught in disputes involving developers - Three C Shelters and Orris Infrastructure - towers are reminder of their indefinite wait.
Read more - Builder Accounts Frozen
Nirbhay Thakur reports this week, two court orders brought some movement: Delhi High Court set up committee to verify homebuyers' claims, while Supreme Court restored insolvency proceedings against Three C.
Greenopolis launched in 2012 on 47 acres, developers agreeing to split allotments 65:35. Buyers booked flats 2012-13. According to Delhi High Court order, Three C collected Rs 776.60 crore from buyers and Orris about Rs 383.06 crore from its own. Buyers said they had paid 80-90% of price when construction came to halt in early 2016.
Of 1,862 units planned, only about 1,650 allotted - 1,091 by Three C and 559 by Orris - across three phases. Phase 1 comprised 512 flats which went to some Orris buyers and purchasers in open market. Phase 2 with 766 flats and Phase 3 with 584 flats remain unfinished.
Read more - Hit, Run, Hide
"Savings to run out" Vinay Bhasin, 56, former factory automation professional, was promised possession in 2014 with one-year grace. Eleven years later still waiting. "I'm living in small apartment," he said. Vinay has been without job almost two years. His child autistic and currently at intervention centre while monthly expenditure crossed Rs 70,000. Flat financed through private bank loan. Vinay said interest kept increasing every few months. He borrowed from friends and closed loan in 2020-21, but savings now running out. "I had to break my Provident Fund," he said.
The financial pressure forced family to sell jewellery. "Selling our jewellery was one of most painful decisions we have ever had to make. They were years of savings, memories and security," said Sushma.
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