Pay part of Ambience underpass construction cost, developer tells residents; RWA questions its legality

Pay part of Ambience underpass construction cost, developer tells residents; RWA questions its legality
https://timesofindia.indiatimes.com/
Published onhttps://timesofindia.indiatimes.com/
Publish Date1 August 2023
Reading time2 Min

Share on Social Links

Category

StockBeginner GuideAngel InvestingSME IPOEconomy MarketAIFInvestmentsMore

The developer of Ambience Lagoon in DLF-3 has asked around 300 families living in the society to pay a part of the construction cost of a U-turn underpass built near the Ambience Mall on NH-8. The residents on Sunday questioned the legality of the developer's demand, and asked why they should have to contribute to costs incurred for public infrastructure. They also said the developer never took consent from them on such construction and payment for it. But Ambience Group maintained they had an agreement with the flat-owners. The 3.7km, four-lane underpass was constructed by the National Highways Authority of India (NHAI) at a cost of Rs 102.9 crore. According to the agreement, NHAI was to pay half of the cost, and GMDA's half was to be borne equally by DLF and Ambience Group. Last week, the Ambience Group generated invoices, asking the residents to pay Rs 14.61/sqft by August 8. At this rate, residents would have to pay anywhere between Rs 35,000 to Rs 58,000 each, depending on the size of their flats. "There was no agreement. This came as a complete surprise to us and it is absurd for residents of the society to pay for public infrastructure that is being used by every citizen and commuter in Gurgaon. Why should we pay for it when we are not the only ones using it," asked Prateek Dabral, RWA president of the society.

Tags

StockBeginner GuideAngel InvestingSME IPOEconomy MarketAIFInvestmentsMore

Stay Connected, Stay Informed –

Join Our

WhatsApp

Channel!

Don’t miss out on exclusive updates, market trends, and real-time investment opportunities. Be the first to know about the latest unlisted stocks, IPO announcements, and curated Fact Sheets, delivered straight to your WhatsApp.

Pre Ipo

Pre Ipo

Upcoming IPO

Upcoming IPO

Unicorn

Unicorn