Mohali, March 8: Members of the World Trade Center Chandigarh Mohali Allottees Association gathered at a private hotel and the project site on Sunday to protest against prolonged delays and alleged financial irregularities. The investors appealed to the Punjab Government, the Real Estate Regulatory Authority (RERA), and the Greater Mohali Area Development Authority (GMADA) to secure the completion of the commercial development and deliver justice to the affected families.
Association officials stated that the project was approved in 2015 with an estimated cost of ₹132 crore, yet it remains unfinished despite the developer reportedly collecting nearly ₹432 crore from approximately 1,200 allottees. According to the association, construction progress has been virtually non-existent since 2020, leaving many middle-class investors in financial distress after committing their life savings to the venture.
“The builder failed to fulfill the commitments made to buyers,” Association President A.S. Walia and other executive members maintained during the briefing. They affirmed that more than 70 percent of the buyers have already paid the majority of their dues without receiving possession of their units.
The association has formally requested that the state government remove and blacklist the original promoter. They suggested that under Section 8 of the RERA Act, 2016, the project should be transferred to a competent developer to ensure its revival. Further demands include the establishment of an independent monitoring committee and regular public updates on construction milestones.
The protesters also raised concerns regarding the oversight of authorities, noting that swifter action from RERA could have prevented the current crisis. The allottees asserted that if the government does not intervene promptly to protect the interests of the 1,200 families involved, they will be forced to initiate a larger-scale protest.
