14-year wait, no flats: Gurgaon homebuyers mark Independence Day amid unfinished towers

Retired Air Vice Marshal SS Chauhan, who attended the event, said he wanted to move here after his previous home in Sushant Lok 1 became surrounded by four-storey buildings in 2017, blocking air and sunlight. “Even till 2021, it (Fernhill flat) was still not ready… it has been a long and painful struggle,” he said.

Promoted by Ansal Properties & Infrastructure Ltd, the project offered 712 flats, 28 villas, and 9 shops. Buyers had collectively paid over Rs 274 crore under a tripartite Builder Buyer Agreement (BBA) involving them, Ansal, and the then landowner. The project deadline was 2018.

Over the years, however, the venture became mired in allegations of fraud and financial mismanagement, leaving buyers stranded without homes or refunds, claimed members of the Flat Buyers’ Welfare Association.

In 2021, residents moved the National Company Law Tribunal. The Corporate Insolvency Resolution Process against Ansal Properties & Infrastructure Ltd, due to the stalled project and alleged financial irregularities, was formally initiated in November 2022.

In January 2023, the National Company Law Appellate Tribunal (NCLAT) confined the proceedings specifically to the Fernhill project, ensuring focused resolution efforts. Ansal did not object thereafter, and the project was handed over to a new builder after it invited Expressions of Interest from companies in this regard in March 2023.

Amidst cries of Jai Hind and Bharat Mata ki Jai at the unfinished project site, resolution professional J K Grover said the Department of Town and Country Planning has given approval to the new builder to resume construction at the site. “The letter came three days ago. Within 15 days, we will give timelines as to when the remaining towers will be complete and flats handed over,” he said.

Two of the towers are 95% complete, and these are expected to be allotted first.
Over the years, buyers have pursued multiple legal avenues. Complaints have been lodged with the Enforcement Directorate (ED) under the Prevention of Money Laundering Act (PMLA), the National Consumer Disputes Redressal Commission (NCDRC), and the Haryana Real Estate Regulatory Authority (HRERA).

“We trusted the system and paid our dues, but we are being punished for it,” said Mahesh Jain, a buyer and chartered accountant.

Along with other buyers, he alleged that units were sold without necessary approvals, documents were withheld, and refund requests were denied — while legal remedies were blocked by arbitration clauses and manipulations in the agreement.

Some buyers are still skeptical about getting their homes. “Ramji ke vanvaas se zyada intazaar kia hain, kuch nahi hoga sab chor hain (We’ve waited longer than Lord Ram’s exile — nothing will come of this, they’re all thieves),” said an elderly man, who did not wish to be named.

Others said the flats had been booked by their parents, who have since passed away.

“My father died a year and a half ago. He had booked the flat in 2011. We’ve paid Rs 48 lakh so far, but couldn’t file our claim before the Tribunal in time. I hope we also get relief — and a home,” said Manish Varma.

Flat Buyers’ Welfare Association president Manish Abrol (54) expressed hope that by next year’s Independence Day function, there would be song and dance performances by the children of families who have finally moved in.