Tag: Ocean Seven Buildtech

Latest StoriesRera

Haryana RERA Directs Ocean Seven Buildtech to Refund Buyer

GURUGRAM: The Haryana Real Estate Regulatory Authority has instructed a builder to refund Rs 7,30,000 to an allottee following the cancellation of a flat due to non-payment of dues. Sachin Kumar contested the cancellation of his unit in Expressway Towers under the affordable housing initiative in Sector-109. The total cost of the unit was Rs 12,28,000, with Kumar having paid Rs 7,31,251, representing 60% of the total price. The builder issued a cancellation notice on September 3, 2021, for non-payment of the remaining balance. On November 13, the Authority ordered Ocean Seven Buildtech to refund the paid amount of Rs…

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Delhi Court Sends Ocean Seven Chief to 14-Day ED Custody in PMAY Scam

NEW DELHI: On Friday, a Delhi court granted the Enforcement Directorate (ED) a 14-day custody of Swaraj Singh Yadav, the director of Ocean Seven Buildtech Pvt Ltd (OSBPL) in Gurugram, over an alleged money-laundering case. Yadav was presented before Additional Sessions Judge Shefali Barnala Tandon around 2:25 am following his arrest related to money laundering tied to the Pradhan Mantri Awas Yojana (PMAY), a flagship initiative by the Union government. The agency explained that Yadav was brought to the judge’s residence at this unusual hour due to constitutional mandates requiring arrestees to be produced within 24 hours. Launched on June…

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OSB Director Faces FIR for Fund Misuse & License Violations

GURUGRAM: In a significant enforcement action within Haryana’s affordable housing sector, an FIR has been filed against a company and its director for financial fraud, licensing infringements, and extensive irregularities. The Haryana State Enforcement Bureau has lodged the FIR against M/s Ocean Seven Buildtech (OSB) Pvt Ltd and its director, Swaraj Singh, following a complaint from the district town planner (enforcement). This action has led to authorities requesting a lookout circular (LOC) against Singh due to concerns he might flee the country. The FIR cites violations under Sections 10 and 12 of the Haryana Development and Regulation of Urban Areas…

Latest StoriesRera

H-RERA Grants 11% Interest Compensation to OSB Buyers

GURUGRAM: Eight years later, many homebuyers of the OSB Expressway Towers project in Sector 109 still haven’t received possession of their flats. The Haryana Real Estate Regulatory Authority (HRera) has taken serious note of the delay, instructing the developer, Ocean Seven Buildtech Pvt Ltd, to compensate the buyers with 11% interest for the period of default. This amount must be settled within 90 days, and any outstanding dues from the buyers must be cleared within 60 days. The directive was issued by HRera member Ashok Sangwan during hearings involving complainants Pinky and Ojaswi Yadav. The complainants allege that the builder…