Buyers appeal to CCI for help
Builders are threatening to cancel bookings, alleges NEFOMA
The Noida Extension Flat Owners and Members Association (NEFOMA) has written to the Competition Commission of India about some builders in the areas issuing cancellation letters and demanding more money from buyers.
Devender Kumar, founder chairman, NEFOMA, has, in the letter, said that developers have started sending cancellation letters to buyers who may not have paid 10% of the total apartment cost as against the 10% of the basic sale price asked for at the time of booking.
“Some builders are now exploiting us by threatening to cancel the flats we have booked so that they can resell them at a higher price,” he said, adding that many