Fight against greedy builders..
The whole purpose of this petition is to make the authority liable for not taking any action against the Builders who are cancelling the flats of buyers and compelling them to sign an addendum to pay more in case the builders have to pay compensation to farmers after the land acquisition controversy at Noida Extension. The Builders lured the buyers with attractive advertisements in newspapers and TV channels. They promised buyers to sell their housing projects at attractive prices just to increase them later on. They used buyers’ money to build their projects and after the prices in the area increased they started cancelling flats. They delay allotting flats and often demand more prices than promised at the time of bookings. The Buyers booked their flats at a time when there was no land acquisition controversy. They paid the booking amount of their flats as per the rates in existence when these builders started their projects and the builders themselves fixed these prices for selling the flats. But after the land controversy the Builders increased the previous rates arbitrarily and started cancelling flats without any substantial reason. At this moment, the builders are forcing existing buyers to sign an addendum to pay more in future to builders so that they can pay compensation to farmers. The Builders has completely getting away with their liabilities towards buyers as well as farmers. They are using buyers’ money to pay compensation to farmers so that they do not have any financial liabilities towards anyone. The builders are cancelling the flats on unreasonable grounds. The NEFOMA believes that these are unethical business practices which are only increasing the liabilities of buyers for all financial expenses which the Builders and The Greater Noida Authority should pay. Hence, this petition seeks to stop cancellation, non-legal contractual practices and one-sided legal obligation which are being used by builders to exploit innocent flat owners who invested in various housing projects without knowing of any land controversy in existence at Noida Extension. The existing buyers are the people who invested in the housing projects by these builders at a time when there was no controversy in existence. They totally relied on the Greater Noida Authority land allotment process and CREDAI that builders are selling flats legally and as per the reasonable contractual liabilities. The whole purpose of the Contract Law is to have equality between contractual parties without giving undue advantage to any one party. On the other hand, builders used contractual laws to serve their own purposes and ignored the fundamental rights of the buyers entirely. The NEFOMA will keep on fighting for the rights of buyers who spend their hard-earned money and dream of a home. No regulator on builders till day.... pls join hand with NEFOMA and sign this petition against builders.