No buyers, Chintels Paradiso cancels plans to rebuild apartments; most choose repurchase

GURUGRAM: The developer of Chintels Paradiso, whose four buildings have been deemed unfit for habitation since a tower collapsed in February 2022, announced on Tuesday that it is rescinding its offer to rebuild or renovate the affected homeowners’ apartments because nobody has opted to do so to date.

According to Chintels India, the original offer, which paid the homeowners of towers D, E, and F Rs 6,500/sqft in compensation and refunded the stamp tax and the cost of interior remodeling, is still valid. About 80 prospective purchasers have reportedly already selected Option 1 according to the developer.

The three towers have 180 apartments.

“Since no unit owner has yet accepted the terms and conditions, we have withdrawn the second choice. However, the developer said in a letter to the society’s RWA and the district government, “The first choice is still open.

“About 52 agreements have been signed by the 80 to 85 families that choose option 1. 10% of the check’s total value was distributed to these 52 apartment owners, according to the letter.

After a sixth-floor apartment in Tower D collapsed on February 10 of last year, killing two women, the Sector 109 society came under fire. Towers D, E, and F were deemed unsafe for habitation in structural audits conducted in the wake of the disaster; tower G was later added to that list.

The second alternative, to rebuild or refurbish the structures, was deemed “not viable” by the society’s RWA president Rakesh Hooda. There would have been no deadline for taking ownership of their flats, and flat owners would have had to pay Rs 1,000 per square foot.

In order to provide monthly rentals to displaced flat owners, waive off the money, and set a definite date for possession, the district administration and the developer should design a new option 2, Hooda stated.

There were no buyers for option 2 because of uncertainty around approvals, timeframes, and the developer’s future, according to a spokesman. We would be pleased to speak with more flat owners who are considering using option 1.

First come, first served will govern the complete and final payments. Chintels India pledges its future full collaboration with the RWA and Paradiso inhabitants and expresses the hope that we can cooperate to find a swift settlement, according to the letter.