Mohali: WTC, Beverly promoters move appellate authority

Gaurav Kanthwal

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Mohali, April 26

The promoters of two major real estate developers here have filed an appeal before the appellate authority of the Greater Mohali Area Development Authority (GMADA) following cancellation of their allotment by the authority over default.

Representatives of both promoters would attend the hearing next week, said GMADA officials.

On April 13, the two companies — World Trade Center (WTC) Chandigarh and Beverly Golf Avenue — developing an upscale residential and a commercial project defaulted on payments to GMADA for site allotment, thereby putting the future of hundreds of flat owners and commercial space buyers in jeopardy.

GMADA Chief Administrator Amandeep Bansal said: “An appeal has been filed before the appellate authority. It is pending for hearing next week. The representatives of both firms have met the officials concerned and expressed their intention verbally to resolve the matter.”

A representative of the WTC Chandigarh said: “We have submitted a written representation to the Estate Officer on Tuesday. We are hopeful of resolving the issue soon.”

Estate Officer (Housing) Amrinder Tiwana said: “The construction head of Beverly Golf Avenue has met us today and discussed the issue. The appellate authority will decide on the case.”

The WTC Noida Development Company Limited had filed a writ petition in the Punjab and Haryana High Court, apprehending that the order for eviction was likely to be passed on April 25. The High Court had on April 24 disposed of the writ petition with an observation that the status with regard to the possession should be maintained till a decision was taken by the appellate authority on the application for stay or the appeal, whichever was earlier.

Hearing next week

• GMADA says representatives of both firms have met officials and expressed intention to resolve matter; hearing is scheduled to be held next week
• Promoters of Beverly Golf Avenue in Sec 65 owe Rs 80 cr & WTC Chandigarh in Aerocity Rs 103 cr; this includes penal interest for default on payments
• GMADA maintains dues have to be paid according to terms and conditions, while promoters are contesting interest rates according to repayment plan

Flat owners and commercial space buyers in the two projects are anxious over the fate of their investment after GMADA cancelled the allotment of the two sites.

Around Rs 80 crore is outstanding against the owner of Beverly Golf Avenue in Sector 65 and Rs 103 crore against WTC Chandigarh in Aerocity. This includes penal interest for defaulting on payments to GMADA, an official had said.

GMADA officials maintained the outstanding amount had to be paid according to the terms and conditions of the development body, while the promoters of the projects were contesting the interest rates according to the repayment plan.

Sources said had the two firms made payments according to the schedule, they could have availed of a “certain discount” but they did not adhere to it.

Investment safe

Addressing concerns of flat owners and commercial space buyers, GMADA officials said their investment was safe as the matter was between GMADA and promoters. “There may be some delay in registration of property, sale or purchase. But they will have to wait till the matter is resolved,” said an official adding “the buyers can visit the office for latest information”.