BPTP, the biggest beneficiary of the Haryana government’s land licensing regime, is also the target of the largest number of complaints from customers who accuse the builder of violating official policies and reneging on its commitments.
According to Manoj Pandey of Destiny Real Estate broking firm, once BPTP’s registered broker, BPTP has since 2004 booked tens of thousands of flats across its massive land holding, collecting crores of rupees from would-be homeowners, but has so far successfully completed and registered only a very small fraction.
In addition, the location of plots has also been changed at random, with customers pushed into less developed and therefore less lucrative zones, with diminished plot sizes. One customer, Kanak Lal Mishra, who deposited Rs. 4 lakh by cheque with BPTP for advance registration of a 250 sq yd plot in Faridabad in September 2005, was allotted Plot No X10-04 measuring 302 sq yds at Parklands, Faridabad vide a BPTP Allotment cum Demand Letter dated July 4, 2008. “We hereby call upon you to pay a sum of Rs. 8,07,434 by 19.07. 2008 and the balance amount of Rs. 8,07,434 by 3.08.2008 failing which, it shall be assumed as you are not interested in the allotment.”
The letter goes on to state: “Timely remittance of the payments due is the essence of the transaction/agreement failing which the company shall be entitled to cancel the allotment without any further notice and reference to you and you shall be left with no right title, interest in the said property. As regards the interest on delayed payments, the same is payable at 18 per cent p.a.”
In a letter dated 12 April 2008, BPTP again wrote: “Please note that due to changes in the layout plan, we have allotted you an alternate plot. The plot number now allotted to you is LM2-45C, measuring about 258 sq yds, Parklands, Faridabad.”
Mr. Pandey told The Hindu that BPTP’s agreement document referred to in the letter is very complex, running into roughly 500 pages, which ensures that neither the broker nor the client can ascertain its legal implications before making their decision to invest. “BPTP made my client Mishra pay for 302 sq yd when he had applied for just 250 sq yd, changed the plot and the size to 258 sq yd without refunding the extra money, has even taken enhanced External Development Charges (EDC) — increased more than double from Rs. 1,024/sq yd to Rs. 2,400/sq/yd — and has still not registered the property, which is now located in a jungle where there is no development activity as yet.”
A forum for aggrieved customers of BPTP Parklands was set up in November 2006 itself which now has 290 members. Its link, http://groups.yahoo.com/group/BPTPforum/message/1600 provides an idea of the distressingly similar nature of grievances. More complaints are also available at http://www.grahakseva.com/complaints/16644/bptp-cancellation-of-floor-after-paying-80-of-total-amount.
BPTP officials did not respond to a list of queries put to them by The Hindu.