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Neelkanth Kingdom developer's office sealed over pending dues
Updated On: 21 November, 2020 07:45 AM IST | Mumbai | Vinod Kumar Menon
Resident says the housing project in Vidhyavihar West is still incomplete even though the developers stated that it was finished way back in 2013

The sealed developers' office at Neelkanth Kingdom
The collector's office has sealed the developers' office within the premises of Neelkanth Kingdom in Vidhyavihar West due to non-payment of suburban collector dues worth Rs 89 lakh. A fine of Rs 175 crore imposed in 2017 was later revised to Rs 4 crore. However, a resident of the complex is likely to challenge the matter before the Ministry of Revenue as she claims that the project still remains incomplete even though the developers stated that it was completed in 2013. On the other hand, this might lead to more trouble for the 300 flat owners at the society, as none of them have paid the mandatory transfer and mortgage charges to the suburban collector and recovery procedures could be levied."
Construction delay
Stuti Galiya, a solicitor by profession and also a resident of the complex said, "Neelkanth Kingdom is a residential project having two phases. The land has been leased by the collector to Vidya-Vihar Containers Ltd, who is the lessee. The project has been constructed by partnership firm Gammon Neelkanth Realty Corporation (GNRC). The GNRC has three partners – Neelkanth Mansions and Infrastructure Private Limited, Neelkanth Realtors Private Limited and Treetops Housing and Estate Private Limited. Since the project has been constructed on leasehold land, development premium needs to be paid to the collector for carrying out construction activities. This is in addition to annual lease rent and transfer premium, which needs to be paid on every property transaction. The project was launched in 2005, but remained stalled till 2010, on account of disputes amongst the GNRC partners. GNRC and Vidya-Vihar Containers Ltd started handing over fit-out possessions to flat owners in 2015 (pending receipt of occupation certificate). On account of delay in construction, accumulated collector dues turned out to be R175 crore, which remained unpaid till November 10, 2017. Hence, the collector issued a demand notice in 2017 against Vidya-Vihar Containers Ltd."
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