After buyers of the luxury project ‘Prideasia’ by Parsvnath Developers Limited (PDL) at Chandigarh IT Park, it is now the turn of allotees of other residential projects by the developer to lose sleep over the fate of completion of the projects.

Compounding the buyers’ concerns is the lack of response from the developer’s side , which may lead to withdrawals of bookings from these projects too.

Buyers are worried because the fate of residential projects by PDL in the tricity is in doldrums.

Not only has the developer been hit by the stalling of Prideasia, the work at other projects at Panchkula and Dera Bassi is also at a standstill.

Besides Prideasia, PDL had launched two other projects in the tricity —Royale, a residential project, on an area of eight acres in Sector 20, Panchkula, in April 2007 and Greens on 60 acres in Dera Bassi in the same year.

"Even after repeated attempts of communicating with PDL officials by letters, telephone, personal meetings, both on site and in Delhi, we got no response from them. The last communication received from PDL was in March. A site visit at Sector 20, Panchkula, has aggravated fears of losing my investment of Rs 66 lakh," said Akhil Bansal from Sangrur.

Bansal, a tax consultant, had invested in a three-bedroom apartment in Panchkula in December 2007.  

Though PDL officials claim nearly 60 per cent units have been sold at Royale, the site has seen no construction for over a year. All the site has right now are the sample flats with rest of the area having a few under-construction pillars.

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