Faridabad Builder Cancels Flats After Receiving Over 80% Payment
Buyers of two-bedroom flats in Faridabad’s Sector 45 have alleged that the developer cancelled their allotments and resold the properties despite receiving more than 80% of the payment.
- Three buyers have accused Jyotindra Steel (Infrastructure) Ltd of cancelling their flat allotments.
- The complainants claim they had paid over 80% of the flat cost by 2023–24.
- Faridabad Police registered a case following an investigation by the Economic Offences Wing.
Faridabad: A real estate developer in Faridabad has been booked in an alleged fraud case after three homebuyers accused the company of cancelling their flat allotments despite receiving more than 80% of the agreed payment. The dispute concerns two-bedroom flats in the Sarvome residential project in Sector 45, Faridabad, where the buyers allege that their properties were subsequently sold to other customers.
The complainants, identified as Rajiv Nathwani, Hari Ram and Gaurav Nathwani, had booked flats in the project developed by Jyotindra Steel (Infrastructure) Ltd. According to their complaint, they had deposited more than 80% of the total flat cost by 2023–24. However, the company allegedly cancelled their allotments in 2024 and resold the units even though the project’s construction had not been completed.
The three buyers approached the Police Commissioner’s office, seeking legal action against the developer. Their complaint alleged that the company had cancelled the original allotments despite receiving substantial payments from them.
The complainants also raised concerns over the financial status of the properties, claiming that the flats involved in the dispute had been mortgaged with ICICI Bank. They described the cancellation and subsequent resale as fraudulent and requested an investigation into the matter.
Following the complaint, the Economic Offences Wing (EOW), NIT, Faridabad, conducted an investigation into the allegations. The matter was referred for legal opinion to the Assistant District Attorney after the initial inquiry.
Based on the legal assessment, permission was obtained to register a criminal case against the company under relevant provisions relating to cheating and criminal breach of trust. The police have registered the case following the investigation.
The incident highlights the financial risks homebuyers can face when developers cancel property allotments after collecting a substantial portion of the purchase amount.
For buyers, the alleged resale of already-allotted flats raises concerns about transparency in property transactions, proper documentation and the protection of payments made during construction. The involvement of a bank mortgage also adds another dimension to the dispute, as the financial status and ownership rights of the properties may need further examination.
The case is now subject to further police investigation. The allegations made by the complainants will need to be examined, including the original allotment documents, payment records, cancellation notices, subsequent sale agreements and the mortgage status of the disputed flats.
The investigation will also be important in determining the company’s role in the alleged cancellation and resale of the properties. Further legal action will depend on the evidence collected by the police.
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