Emaar MGF pays dues to DDA for CWG flats

The long wait of buyers for the possession of Commonwealth Games flats seems to be over as developer Emaar MGF has paid the contractual amount due to the Delhi Development Authority (DDA) following which the agency would release the flats from its possession. “Emaar MGF has paid the conditional payment (on Tuesday) to the DDA and now it (DDA) will issue the power of attorney to the developer. The power of attorney is expected to be given in another few days,” a senior Emaar MGF official said. Once Emaar MGF receives the power of attorney from the DDA, it can execute sale deeds in favour of buyers, officials said. Senior DDA officials also confirmed that the agency had received the money, a sum of over Rs 19 crore from the developer, and would now issue a power of attorney soon. Emaar MGF, which had built multi-storey towers in the Commonwealth Games Village, was on Monday directed by the Delhi High Court to pay its dues to the DDA so that completion certificates could be issued to the flats. The court also asked the DDA to issue power of attorney to the builder once its pays the dues so that possession of the flats could be given to the owners. The DDA had told the court that it had recently issued completion certificates for 26 towers and for four towers (numbered 13, 17, 31 and 36), it would issue the certificates once the dues were cleared. On the last date of hearing, the court had directed the DDA to expedite the process of issuing completion certificates to the flats, housed in 30 towers, at the earliest and keep four towers separately in the Village. The DDA was directed to keep four towers -- 5 and 15 (Emaar MGF share) and 26 and 29 (DDA's own share) -- out of the total of 34 towers to allot them to flat buyers, in case some flats were demolished due to violation of building bylaws Till now, the DDA has been in possession of the entire project comprising 1,168 flats in 34 towers.

source: http://www.realtyplusmag.com/rpnewsletter/fullstory.asp?news_id=19475&cat_id=1