Dedicated locality research platform
Enter your email address and you will receive
a link to reset your password
In a disconcerting turn of events, the residents of Logix Zest, a prominent residential complex in Noida, India, have been burdened with an unexpected financial blow. As reported by Economic Times, the residents, who have already paid a staggering Rs. 3 crores towards their power-related expenses, are now confronted with an exorbitant demand of an additional Rs. 90 lakhs. This unexpected surge in power costs has left the inhabitants of Logix Zest grappling with financial uncertainty and questioning the underlying reasons for such a massive hike.
The predicament began when the residents were initially asked to pay a substantial sum of Rs. 3 crores to meet the power requirements of the complex. Despite complying with this demand, they were shocked to learn that an additional Rs. 90 lakhs were being levied upon them, further exacerbating their financial woes. The sudden increase has sparked outrage among the residents, who are now demanding transparency and justification for the added expenses.
Logix Zest is known for its luxurious amenities and state-of-the-art infrastructure, which initially attracted numerous buyers and investors to invest in this opulent residential enclave. However, with the recent turn of events, the trust of the residents has been severely shaken, raising concerns about the management's financial practices and accountability.
Residents have expressed deep concerns about the lack of clarity surrounding the additional charges. They are demanding a comprehensive breakdown of the costs incurred and detailed information on how the funds from the initial Rs. 3 crores were utilized. The lack of transparency in financial matters has left the residents feeling vulnerable and taken advantage of, leading to a collective call for an independent audit of the complex's financial records.
In response to the growing discontent and agitation among the residents, the management of Logix Zest has assured them of an open dialogue and intends to address their concerns promptly. A meeting has been scheduled between the residents and the management team to discuss the situation and find an amicable resolution.
This situation at Logix Zest highlights the importance of consumer awareness and protection in the real estate market. Prospective homebuyers are advised to conduct thorough research and exercise due diligence before investing in any property. Engaging legal experts to review all contractual terms and conditions can provide added protection against unforeseen financial burdens.
Propscience is India’s dedicated property news portal. We cover the latest events, news, trends, deals, new launches and more.
All our services and tools are completely free of cost and available 24X7!
We use cookies to give you the best possible service while using our website, please click accept and carry on browsing if you're happy with this. For more information see our Privacy Policy.
Okay, Got it!This disclaimer ("Disclaimer") is applicable to the entire Site. Upon entering the Site it is recommended that you immediately read the Terms and Conditions and Privacy Policy listed therein. Your continued usage of this Site will indicate your unconditional acceptance of the said Terms and Conditions and Privacy Policy. You hereby agree that Propscience reserves the right to modify at any time, the Terms and Conditions and Privacy Policy governing this Site without prior notification. Your usage of the Site implies that you will be bound by any such modification. You agree and acknowledge that it is your responsibility to periodically visit the Site and stay updated with the Terms and Conditions and Privacy Policy of the Website.
The information contained in this Site has been provided by Propscience for information purposes only. This information does not constitute legal, professional or commercial advice. Communication, content and material within the Site may include photographs and conceptual representations of projects under development. All computer-generated images shown on the Site are only indicative of actual designs and are sourced from third party sites.
The information on this Site may contain certain technical inaccuracies and typographical errors. Any errors or omissions brought to the attention of Propscience will be corrected as soon as possible. The content of this Site is being constantly modified to meet the terms, stipulations and recommendations of the Real Estate Regulation Act, 2016 ("RERA") and rules made thereunder and may vary from the content available as of date. All content may be updated from time to time and may at times be out of date. Propscience accepts no responsibility for keeping the information in this website up to date or any liability whatsoever for any failure to do so.
While every care has been taken to ensure that the content is useful, reliable and accurate, all content and information on the Site is provided on an "as is" and "as available" basis. Propscience does not accept any responsibility or liability with regard to the content, accuracy, legality and reliability of the information provided herein, or, for any loss or damage caused arising directly or indirectly in connection with reliance on the use of such information. No information given under this Site creates a warranty or expands the scope of any warranty that cannot be disclaimed under applicable law.
This Site provides links to other websites owned by third parties. Any reference or mention to third party websites, projects or services is for purely informational purposes only. This information does not constitute either an endorsement or a recommendation. Propscience accepts no responsibility for the content, reliability and information provided on these third-party websites. Propscience will not be held liable for any personal information of data collected by these third parties or for any virus or destructive properties that may be present on these third-party sites.
Your use of the Site is solely at your own risk. You agree and acknowledge that you are solely responsible for any action you take based upon this content and that Propscience is not liable for the same. All details regarding a project/property provided on this Site are updated on the basis of information available from the respective developers/owners/promoters. All such information will not be construed as an advertisement. To find out more about a project / development, please register/contact us to visit the site you are interested in. All decisions taken by you in this regard will be taken independently and Propscience will not be liable for any such loss in connection with the same. This Site is for guidance only. Your use of this Site - including any suggestions set out in the Site and or any use of the resources available on this Site, do not create any professional - client relationship between you and Propscience. Propscience cannot accept you as a client until certain formalities and requirements are met.
We use cookies to give you the best possible service while using our website, please accept it and continue browsing if you're happy with this. For more information see our Privacy Policy