The Town and Country Planning Department of Gurugram is now going to crack down on 155 builders for non-payment of External Development Charges (EDC) and Internal Development Charges (IDC). These builders have an outstanding amount of more than four and a half thousand crore rupees. Due to non-receipt of this amount from the builders, the construction of water-sewer and roads in the new Gurugram area is affected.

The department has ordered action against the builder who did not pay the dues. With this, the property of the builders can also be attached. On the other hand, Director General of Town and Country Planning Department, TL Satya Prakash has given instructions to take strict action against the builders.

Dues are on these builders: Town and Country Planning Department has issued a list of 155 builders who have not given EDC and IDC, in which 683.35 crore on Unitech, 461.76 crore on Country Boot Promoters, 351.40 crore on Vatika Limited, 290.60 on Vipul Crore and Orish Infratech owes Rs 186.34 Crore, Raheja Developer Rs 159.77 Crore, New India City Developer Rs 132.14 Crore, Ambience Rs 129.93 Crore, Calendar Developer Rs 103.87 Crore.

Apart from this, dues ranging from Rs 64 crore to Rs 84 crore are owed to many builders, who are not paying the dues for the last 10 years. To give relief to these builders, the government had started Samadhan Se Vikas Yojana, but 143 builders and colonizers had deposited only 1200 crores. The rest of the builders owe Rs 4.5 thousand crore to 155 builders.

[web_stories title=”true” excerpt=”false” author=”false” date=”false” archive_link=”false” archive_link_label=”” circle_size=”150″ sharp_corners=”false” image_alignment=”left” number_of_columns=”1″ number_of_stories=”4″ order=”DESC” orderby=”post_title” view=”carousel” /]

Development work in sectors is not able to catch pace

Badshahpur MLA Rakesh Daulatabad raised the issue of non-payment of dues from builders in the assembly session. The state government has also accepted that it is affecting the development works. Due to this, 11 kilometer water supply and sewerage DPR is ready from Sector-80 to 90 of New Gurugram. These works are stuck due to lack of money.

Apart from this, the construction work of 64 kilometer long roads is affected. The state government has indicated strict action against such builders. Action will be taken against them for not responding to the notice. If the outstanding amount is recovered, then the stalled works will start.

Problems due to lack of basic facilities

Praveen Malik, vice-president of the United Association of New Gurugram, said that neither water pipeline nor sewer line has been built in sectors from Sector-80 to 90. More than 50 societies neither get drinking water. Sewerage water is accumulated on the roads. The condition of the roads is so bad that one has to walk. Complained from GMDA to Manesar Corporation, but due to no solution, thousands of people are forced to live a hellish life. The government has also failed to recover the dues from the builders. Licenses are being given only to builders.

The post Big news for builders: Notice issued to 155 defaulter builders in Gurugram, preparation to attach property also? first appeared on Rightsofemployees.com.

Now in these loans, the bank mortgages a property with itself as a guarantee. If seen, if the loan is taken, then its installment will have to be paid. However, many times people are not able to return the money. In such a situation, they have to face a lot of problems.

Obviously, when the loan is taken, it will have to be repaid one day. Then the bank starts the action to withdraw its money by doing various types of work.

Reminders are sent first

Let us tell you that if two EMIs of the loan are not given, then the bank sends you a reminder. In the case of a similar home loan, if you miss three installments, a legal notice is sent. Even after that, if you do not pay the money, then you are declared a defaulter by the bank.

If you do not repay the loan on time, then it spoils your record. It has a bad effect on the credit score. This again makes it difficult for you to get a loan the next time around.

Auction comes to an end

If you do not pay three installments and then do not take the warning seriously, then you will come under NPA. For example, if your property is also mortgaged in the secured loan, then in case of non-payment of the loan, the bank can sell that property and repay the loan. The bank can take possession of your mortgaged property. Then it will be the right of the bank.

Auction was the last option

The bank sends reminders and notices. Even after this, if the borrower does not pay the loan, then the bank takes possession of the property of the person concerned and after that the auction process starts.

The post Bank News Rules issue : If the loan is not repaid, then these challenges may have to be faced, know – when does the auction come? first appeared on Rightsofemployees.com.