"The customers had entered into a three-year contract with us. If we have to sell the apartments at a discounted rate, the customers who are backing out should make up for it," an official said. "If DFL tries to re-sell its apartments in the open market, it will have to reduce prices by a further 10-15 per cent. The new buyers know the expected supply is more than demand," said Rupesh Sankhe, equity analyst, Centrum Broking.
DLF, the country's largest property developer, may retrade its apartments at New Town Heights, Gurgaon, and Garden City, Chennai, at a discount. This is to refund buyers who want to exit the projects, according to a senior company official.
CCI has accused realty player DLF of preparing one-sided agreement with home buyers
DLF says it has started the process of giving possession of housing units at New Town Heights project according to its commitment
Global technology and consultancy giant, Accenture, is currently in the process of setting up operations, by way of a software development and delivery centre in Rajarhat.
DLF, the country's biggest property developer, may announce a "relief package" for customers of its second Gurgaon project, 'Express Greens', a few days after it announced a similar package for those who had booked at its 'New Town Heights' residential project, also in Gurgaon.
Facing acute liquidity crunch and poor buyer sentiments, the country's biggest property developer, DLF, has stopped work at two of its biggest mid-income housing projects. The move comes after the developer stalled at least a quarter of its commercial projects.
We should not be listening to the real estate sector's demands on interest rates. Clearly we know where the problem is, says Govindraj Ethiraj.
The order followed complaints against DLF Gurgaon Home Developers.
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Owners selling apartments are putting in a clause that if final order allows original buyers to get compensation.
Turns down firm's plea for stay on CCI order; final order pending
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