Reference to Realty.com from Economic Times– Homebuyers in Gurugram are voicing their frustration with Smart World Developers, claiming their confirmed apartment bookings were canceled without their approval. These cancellations reportedly started in September 2024, catching buyers off guard. Frustrated, buyers gathered outside the developer’s office, demanding the return of their units as per the original agreement.
Why Are the Buyers Angry?
The buyers’ anger stems from a series of issues that they feel are unfair and unethical:
Unauthorized Cancellations: According to the buyers, Smart World Developers canceled their apartment bookings without asking for permission. This came as a shock to many, especially since they had already paid significant amounts toward their units. Some buyers suspect the developer plans to resell the units at higher prices, capitalizing on recent property rate increases.
Informal Communication and Lack of Contracts: Many buyers paid money and secured bookings but never received formal agreements or contracts from the developer. Most communication was informal, conducted through WhatsApp messages or phone calls, leaving buyers unprotected. Without a legally binding document, buyers now struggle to prove ownership of their units.
Price Increases for Canceled Units: Some buyers shared that the developer promised them a specific rate per square foot when they booked their apartments. However, after the sudden cancellations, the developer offered them the same units at much higher prices. One buyer shared that after booking at ₹6,700 per square foot, the developer now asks him to repurchase the unit at ₹9,000 per square foot. This significant price hike is causing financial strain, as many buyers cannot afford these unexpected increases.
Judicial Steps Taken by the Buyers
Many buyers have filed complaints with the Haryana Real Estate Regulatory Authority and the National Consumer Disputes Redressal Commission. A police report has been made, but the company has yet to respond to the matter.
Sad Tales of Affected Buyers
These cancellations have hit retired individuals and families especially hard, as many invested their life savings into the project. Buyers have shared personal stories that reveal the emotional and financial strain caused by these sudden cancellations.
Retirees’ Hard-Earned Money: One retired buyer shared that he paid ₹10 lakh to secure a unit at an agreed price of ₹6,700 per square foot, and even received a booking receipt. After the cancellation, the developer offered the same unit at a higher price of ₹9,000 per square foot. He described this situation as “unfair” and felt deceived, as he had budgeted based on the original rate.
Pension Money at Risk: Another buyer shared how her mother used her pension savings to book an apartment, hoping it would provide financial security for their family. The sudden cancellation has left them heartbroken. They now feel the developer’s actions have jeopardized their investment and broken the trust they had in the company.
These stories reflect the broader frustration among buyers, many of whom feel ignored by the developer. They believe their needs have been neglected and they have been treated unfairly.
The Demand for Accountability
The buyers are now calling on authorities to hold Smart World Developers accountable and prevent similar cases in the future. Moreover, they are seeking regulatory intervention to ensure their units are returned under the original terms, without additional costs. Ultimately, this demand underscores a larger need for transparency and accountability in real estate, where buyers often face risks from complex legalities and unclear communication.
Moving Forward: Buyers’ Determination for Justice
Despite the silence from Smart World Developers, the buyers are determined to continue their protests until their voices are heard. Many believe this protest is about more than their situations; it’s about setting a precedent for fair real estate practices. They hope that by drawing attention to their case, they can push for better protections for all homebuyers.
The ongoing situation in Gurugram highlights the need for formal agreements, clear communication, and developers treating buyers fairly. Meanwhile, as homebuyers wait for a resolution, they remain united in their commitment to fighting for their rights. Furthermore, they are determined to ensure that no one else faces similar hardships in the future.