Flat prices in second government valuation of Chintels Paradiso Tower-D, Real Estate News, ET Real Estate

Gurugram: After revaluation by the government, the value of flats in the ruined Tower D Chintel Paradiso Housing societies have increased by around 16%.

In the reassessment, which was taken after the affected residents rejected the earlier assessment, the government has included stamp duty, external and internal development charges (EDC/IDC) and other expenses. For a 1,850 sq ft flat, the cost in the first valuation was around Rs 98 lakh. After revaluation, it increased to Rs 1.13 crore.

Additional deputy commissioner Vishram Meena told TOI that the report has been submitted to his office, which will be shared and discussed with the society’s RWAs and owners of the tower’s 64 flats this week. “Now, we have included stamp duty of 7% and other charges in the revaluation, thus increasing the all-inclusive flat cost by almost 16%.”

The revaluation will form the basis of compensation for flat owners of the tower, which was evacuated last February after five floors of living rooms collapsed, killing two residents. The Gurugram administration later ordered the tower’s demolition after an inquiry found it to be beyond repair.

On November 11 last year, the flat owners rejected the preliminary assessment report saying that the flat eviction compensation scheme was based only on registry, and did not include other costs such as stamp duty, IDC and electricity charges. This enraged the deputy commissioner Nishant Yadav Order for revaluation of flats

Meanwhile, TOI has learned that internal valuation of some flats is still underway as seven apartment owners were not available at the time of revaluation, while one refused to let the valuers complete the act. As per the latest reports, the highest valuation of interior works in a flat is around Rs 33 lakh.
“The issue of structural audit of towers E and F will also be discussed in next week’s meeting. Efforts are being made to get the audit reports of these two towers at the earliest so that future course of action can be decided.” the officer said.

It may be mentioned here that the Deputy Commissioner has already ordered the demolition of Tower D and directed the developer to finalize the settlement plan for the house owners at the earliest.

On February 10, a portion of a sixth-floor apartment in Tower D of the society collapsed on other floors, killing two residents in their second and first-floor flats. Later, residents of two more towers – E and F – in the society were also asked to vacate as balconies in one of them were found to be loose.

And on 21 December, the Gurugram police made the first arrest in connection with the incident. Amit Austin, owner of Manish Switchgear & Construction, a repairing firm at D-603 (a flat in Tower D), was taken into custody.

The arrest was made after the investigation report of IIT-Delhi It was noticed that during the repair work in flat (D-603) there was immediate collapse due to wrong execution and lack of monitoring. The root cause, however, was rapid and early corrosion of steel reinforcement due to excessive chlorides in the concrete, the final report claimed.