GMADA approved biggest Mega Project with total land bank of 3000 Acre (approx) in Mohali. The project has a 9 Hole Executive Golf Course and features amenities like Club House, Swimming pool, Unisex-gym, Jacuzzi, International School, Club house, Community parks, Multiplexes, Commercial complex providing every convenience for the ultimate in contemporary living.
6. It was further stated that the Opposite Parties, in 2013, again assured the complainants that the possession of plot no. 17, measuring 300 square yards, in Block , Sector 109, SAS Nagar Mohali, Punjab, would be delivered, before July 2013, but to no avail.
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MGF has established itself as one of the key players in retail real estate development in Northern India and has delivered approximately 2 million square feet of retail space. Sector 108 is an upcoming locality of Mohali, Chandigarh. Mohali Hills is close to Chandigarh and has a gated mixed use community for those who appreciate the best that life has to offer.
It is evident from clause B of this Agreement that plot No. 17 situated in block No. MLU admeasuring 300 Sq. yards, in Sector 109 Mohali (alternate plot) was allotted to the complainants on the same terms and conditions as agreed to, between the parties, vide Plot Buyer Agreement dated 20.06.2007.
In an unrelated event in Dubai recently, chairman of Emaar Properties Mohamed Alabbar admitted that he was scared” of the market conditions projected for 2016 by various real estate experts. The company currently has a debt of about Rs 5,000 crore. Indian firm, MGF Developments Limited and Dubai-based company, Emaar Properties PJSC established this joint venture in 2005.
Before the 2010 Commonwealth Games, the company had received at least Rs 7,000 crore as FDI and its prospects were bright. has excellent location plots available in Sector 105,Sector 108 and Sector 109. The company has ongoing projects on around 18 million sq ft at present and aims to develop about the same area over the coming year.
Emaar capitalized the company very well, but things still didn't fall in place and the partnership turned sour,” said a second property consultant, who too didn't wish to be named. For Property update in Mohali & New Chandigarh. Emaar MGF has made its presence felt across India in the retail, commercial, and residential space.
The Consumer Disputes Redressal Forum of Chandigarh issued their sentence in favor of the two flat owners by taking in consideration the fact that a false claim was made by the builder, Emaar MGF Land (Chandigarh) of handing over the residential unit to the consumer within the given grace period.
According to clause 8 of this Plot Buyer Agreement dated 20.06.2007, the Opposite Parties were to deliver possession of the plot, in question, in favour of the complainants, within a period of 2 years, from the date Emaar MGF villas in Mohali of execution of the same but not later than three years.
It comprises low-density residential sectors — 120 to 125. Emaar MGF has mega plans for using its over 13,000 acre (about 566 million sq ft of saleable area) land reserves. According to the original complainants, Harmeek Singh and Karnail Singh, the builder had promised that they would provide them with a plot of 250 sq yards in sector 104, Mohali, Punjab.
Under these circumstances, it is held that the complainants availed of the services of the Opposite Parties, for consideration, for the purpose of allotment of residential plot, in question, for raising the construction of house and residing therein and therefore, they fell within the definition of consumers.