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Universal Trade Tower On Sohna Road Acts Unfairly Against Own Customers By Sanjay Sharma, Section Gurgaon Resale & Rental Hello, Please circulate the fraudulent activities of Universal Buildwell Pvt. Ltd, (of Universal Trade Tower on Sohna Road) builder to as many Real Estate people as possible so that unsuspecting buyers like us stay away from the traps laid by this unscruplous builder in future. Even after the telecast on CNBC Awaaz on June 23, 2009 the Builder has not shown any courtesy to contact us for registering our flat as requested by us many times. We would also welcome contacts by other victims/buyers under this building ( Universal Trade Tower ) who have been duped by this Builder so that a joint action could be taken against this Builder. The story is as follows: I had purchased a 1000 Sqft commercial office space in April 2005 after making full payment in a new project called " Universal Trade Tower "of Universal Buildwell Pvt. Ltd , a New Delhi based builder & developer. The project is located on the main Sohna Road - Gurgaon. When I had invested in the said office space , the construction of the building was yet to start & so I had opted for committed return payment plan under which I made 100% payment of the sale consideration of the office space & I was to get Rs. 25/sqft / month as committed return on my investment until the building was complete . Since I had opted for Leasing option too, the builder was supposed to put my office space on lease & for the 1st lease for 36 months I was to share equally any incresae in Lease Rental beyond Rs. 25/sqft/month. This was entered in the Builder - Buyer Agreement signed with builder. The project got completed some time in May/June 2008. There are atleast 60 % of the offices in this building already functioning . But the Builder is neither registering our Flat nor even offering possession even though we had requested him many times verbally & in writing too. I was called by the builder to his office ( Universal Buildwell Pvt. Ltd , Universal Trade Tower , 8th floor , Gurgaon-Sohna Road , Gurgaon ) and told verbally ( no document & nothing was given to me officially /in writing in the meeting ) as follows :- That I should surrender 300 Sqft (out of 1000 Sqft space booked by me ) back to the builder OR pay additional sum of Rs. 26.5 Lac to the builder as conversion charges ( from assured return plan to leasing plan ). But there is no provision for any such conversion charges in the Builder Buyer Agreement signed with the Builder. None of these options is acceptable to me , as I have made 100% payment of sale consideration at the time of booking the flat . They have actually devised this blackmailing strategy to force the purchasers/ investors to pay additional sale consideration in lieu of the property appreciation in Gurgaon over the past few years. (Click on "Full Story" for more.)
But since I had paid 100% sale consideration in the beginning itself , I am the legal owner of the flat & any appreciation or depriciation in the property value is to my account, so his proposal is not acceptable to me at all. This is the reason why they are not offering me possession & not willing to register my property . According to them the flat can be registered in my name only AFTER we pay him the so called conversion charges i.e 26.5 Lac OR get 300 sqft deducted from the 1000 sqft of the space purchased from them.
I have no problem in sharing the rental increase "at actual" for the 1st lease of 36 months as per the agreement signed with the builder . But he is not interested in this petty amount & threatening that if I do not agree to his proposals ( nothing in writing ) then he will put my flat on lease to somebody at a lease rental of below Rs. 25 per sqft /month when the flats in the same building are being let out at much higher rentals in the region of Rs.75 to 100 / sqft. In response to my various letters to get my property registered immediately , the builder has given an official reply saying that no flat can be registered without Completion Certificate of the building. But on enquiring with the Registration authority in Gurgaon we found that atleast half a dozen properties have been already registered by this builder in the same building. There are atleast 10-15 offices already functional in the same building, but he is not bothered about the false statement that he has made to us in writing . He is just not replying to our letters for getting the flat registerted in our name when we have fully paid the sale consideration even before the construction of the building had been started by him. We have sent a Lawyer's Notice also to the builder in March 2009 , but there is no response from him till date Rather they have now stopped paying me the committed return of Rs25/sqft/month (after receiving the Lawyer's Notice) which they are supposed to pay until the flat is put to 1st lease . What is the remedy to all this illegal actions on the part of the builder ?
Thanks,
Rakesh Asthana Contact details of the Builder are as below :
Universal Buildwell Pvt. Ltd,
TEL NOS : 0124-4734444 , FAX : 0124-4734455 ,
Managing Director : Mr. Raman Puri Resident of : Sainik Farms , New Delhi-110062
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