Buy­ers ap­peal to CCI for help

Builders are threat­en­ing to can­cel book­ings, al­leges NEFOMA

HT Estates - - Front Page - Van­dana Ram­nani

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

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