Our on-going Project MARIGOLD APARTMENTS, NBCC TOWN - PHASE 1
DELHI-SAHARANPUR HIGHWAY, KHEKRA
The construction work of these apartments started last year and we had planned the handing over of the apartments much before the scheduled date. Unfortunately, we faced certain bottlenecks with our construction agency which resulted in holding up of the construction work for a considerably long time. Being a government agency, we had to follow certain time consuming prescribed procedures to terminate their contract and to appoint a new agency.
Today, we are pleased to inform that we have appointed new agencies for construction. To make up for the time lost, we have split the work between two agencies and are making all possible efforts to hand over the apartments as per time schedule mentioned in clause -17 of terms and conditions of application form. The timeline given for completion of the project to the newly appointed construction agencies is April 2013 (This is the same date as given in the schedule). We hope this answers all the questions and concerns that our esteemed customers had regarding completion of these apartments.
We would also take this opportunity to clarify that the payment schedule given as per terms and conditions of the allotment is not linked with the construction schedule. However, keeping in view the request of many of our allottees, the payment schedule was revised on July 21, 2011. The information with regard to revised payment schedule was uploaded on our website.
Many of our allottees are still approaching us for further revision of the payment schedule due to delay in start of construction. Although the construction work has already started in full swing, NBCC, being a government undertaking believes in building a clean and healthy relationship with its customers and gives full respect to their feelings. We have therefore decided to reschedule the payment plan as per the table given :-
Instalments
Schedule for allottees dated 30.04.2010
Schedule for allottees dated 16.09.2010
Schedule for allottees dated 16.12.2010
Schedule for allottees dated 10.03.2011
2nd Instalment
Paid
Paid
31.12.2011
31.12.2011
3rd Instalment
Paid
31.03.2012
31.03.2012
31.03.2012
4th Instalment
30.06.2011
30.06.2012
30.06.2012
30.06.2012
5th Instalment
30.09.2012
30.09.2012
30.09.2012
30.09.2012
6th Instalment
31.03.2013
31.03.2013
31.03.2013
31.03.2013
7th & Final Instalment
Within 30 days of issue of letter of possession
Within 30 days of issue of letter of possession
Within 30 days of issue of letter of possession
Within 30 days of issue of letter of possession
The revised payment schedule does not entitle claim towards payment of any interest to the allottees. To reiterate the terms and conditions as laid down in the application form, any interest/ compensation is payable only in case the project is delayed. As of now, any claim on account of interest for delay in construction and for rescheduling is not liable.
The allottees who have already deposited the IVth and Vth instalments as per original payment schedule can opt for refund of their instalments. On receipt of request letter for refund, we will process the same within 7 working days.
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