Thursday, March 19, 2009

DLF starts refunds ; 561 of 1800 in queue, say buyers

LiveMint reports that DLF has started to issue refund to buyers who have wanted to exit the Garden City project at Semmancheri, off OMR in Chennai. The refunds are reportedly made via cheques routed through direct selling agents of DLF. One such buyer quotes to have received his full payment of Rs.5.21 lakhs via a cheque from Dream Castle, which is a direct selling agent of DLF. 

To get a clarity on the number of buyers wanting a refund, the group members have conducted a poll among the Google Group members to arrive at the total number who have actually asked for a refund - 561. DLF is said to have expected less than 100. 

DLF has denied that it is refunding to all the buyers who have submitted exit letters. 

LiveMint :

"We are not refunding as such but are just swapping existing sales with new bookings," a DLF spokesperson said. 

"We see the genuineness of the customers and then consider this option. Some people have lost their jobs and some people have got pay cuts. We verify with their employers and then consider it, if we find it true," said DLF's spokesperson. He said that bookings of five-six people have been swapped with those of new buyers. 

When asked if this option would be given to all the people who have sent exit letters, he said, "This is not a current account that you put in the money and withdraw whenever you want to. There is nothing general or in-principle about this move. Being a big company, we emphasize on customer relationship and on humanitarian grounds, we consider their (buyers') requests."

Read the full article at LiveMint []. 

From the face of whatever DLF is saying, it seems it is going to refund to only very few buyers, and that too on a case by case basis. Buyers need to be careful and study the project well before deciding to invest into projects, so as to avoid having to hear.. 
DLF Spokesperson :

"This is not a current account that you put in the money and withdraw whenever you want to."

Related : 
BSCPL launches mega township near DLF Garden City at 2500/sqft []

(This post is now part of the DLF Garden City discussion thread at

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