Flat cost revised for the fourth time in Chintels Paradiso

Gurugram based Chintels, who is the developer of the apartment building Paradiso, has sent a letter expressing his exasperation to the district administration after a fourth reevaluation of flats in Tower D took place. In February last year, a vertical collapse of living rooms across five floors in Tower D resulted in the deaths of two residents. The evaluation team appointed by the district administration raised the valuation of the flats from Rs 5,500 per sq ft to Rs 6,900 per sq ft, in recent weeks.

Chintels India, the developer of Paradiso, has written to the deputy commissioner Nishant Yadav, regarding the repeated evaluations of Tower D flats. The evaluations are being done to compensate the residents previously living in Tower D which was declared unable to live in following a structural audit conducted by IIT-Delhi. The developer initially offered Rs 5,500 per sq ft as compensation, claiming it was in line with the market rate in the area. However, the residents have rejected this rate and subsequent evaluations by the district administration’s team.

In the letter, Chintels India described the repeated evaluations as “unrealistic.” The company stated that a small group of unaffected residents was putting pressure on the evaluators to increase the value of the flats arbitrarily. This same group was trying to discourage many reasonable-minded residents from accepting the fair compensation package offered by Chintels by presenting a misleading picture of an overly high market valuation.

Despite offering to move all residents of Towers E, F, G and H to temporary accommodation at their own cost, only a few residents have accepted. The company continues to pay the monthly rent for over 50 families, but this cannot continue indefinitely. The company has asked the residents to move out of the towers multiple times and cannot be held responsible for any future incidents. The letter concluded that the repeated rejections of the compensation rate by the residents and subsequent evaluations were only delaying the payment.

However, members of the Paradiso RWA argued that the reassessment was necessary because the valuators did not consider important elements such as stamp duty, appreciation, and other factors. The association members also stated that if the developer refuses to give them the compensation they are seeking, it should provide new flats to the affected homebuyers. The RWA president, Rakesh Hooda, said they strongly object to the developer’s letter and asked the DC to reject it promptly. He suggested a new directive be issued to reconstruct Paradiso and relocate the residents until the new flats are ready to be handed over to the owners.

Yadav stated that the residents should take legal action if they are not satisfied with the valuation. He explained that the reassessment was carried out because some elements were omitted, and this was the final assessment. The report will be shared with both parties.

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Flat cost revised for the fourth time in Chintels Paradiso

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