Millennium Post

Trump Towers project in Ggn hits roadblock

Gurugram: Touted as 'ultra luxurious residential apartments', the Trump Towers project in Gurugram has hit a major roadblock.
After complaints were raised by the Department of Town and Country Planning of Chandigarh, now the Haryana Real Estate Regulatory Authority (HRERA) has asked for valid documents to be submitted by the Indian developers of the project, M3M and Tribeca Developers.
An official meeting will be held between the Indian realty partners and HRERA chief KK Khandelwal on April 2.
During the meeting, all the documents of the developers will be validated. Sources indicate that if there are discrepancies found, not only would the project run the risk of being scrapped altogether, but major fines could also can be levied on those involved in the project.
The residential project is slated to come up at Sector-65 near Golf Course Extension road.
With an investment of Rs 1,200 crore, the project is estimated to have total of 50 floors and to be one of the tallest residential buildings to be constructed in the city.
There could be more trouble in store for the realtors involved, as most projects being developed in Golf Course Extension area are legally contested by villagers, who allege that their land was not acquired through just means.
In addition to the realtors, buyers of the project could also face trouble.
Sources further claimed that 18 people have already purchased flats in the upcoming project.
Recently, Donald Trump Jr was on a private visit to city, where he dined and interacted with some prospective homebuyers.
Besides Gurugram, Trump Towers are also being constructed in Mumbai, Pune and Kolkata, all of which are being constructed in partnership with Indian developers.
It may be noted here that even as residential sales in property market have seen a major slowdown in Gurugram over the last five years, sales of commercial and luxurious properties still remains buoyant.
Besides Trump Towers there are some other luxurious residential projects which are coming up in various parts of the Millennium City.
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