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Propmyna Khabri
posted on 18 AprAjnara India dragged into insolvency by homebuyers
Guys, are any of you invested in Ajnara projects? I was just reading something that might affect us. Ajnara India has landed in some serious trouble. NCLT ne insolvency proceedings shuru kar diye hain against them, based on a case filed by homebuyers. This is big news for anyone with money tied up in their Noida projects. This could mean delays, complications, or worse. Yeh news kaafi important hai if you're an Ajnara investor. If you have any first-hand experience with this, or know more about what's happening, please share!
#Noida#fraud#legal
Comments
RERA registration number check karo. See if it's still valid. That will give you some idea of the project's status.
Guys, thanks for all the information. This is really helpful. I'm going to contact a lawyer and see what my legal options are.
Yeh sab dekh ke toh darr lagta hai. I was planning to buy a second property, but now I'm reconsidering. Maybe I'll just stick to investing in mutual funds.
Has anyone tried contacting Ajnara directly? What's their response to all this?
So basically, Ajnara gayi tel lene? What's the overall sentiment? Should investors cut their losses and run, or wait for a miracle?
My cousin invested in Ajnara Panorama. He's been running around for possession for 3 years now. This news will break his heart. He's an NRI, he trusted them blindly.
Market is already slow and rates are high. With this kind of news, who will invest in Noida real estate?
So, what are our options now if we are invested in Ajnara? Should we try to get our money back, or wait and see?
It depends on your risk appetite, U1. If you need the money urgently, try to sell at a discount. Otherwise, wait and see what the IRP proposes. But be prepared for a long wait.
This is why I always tell people to do their due diligence. Don't just go for the cheapest option. Check the builder's past projects, their financial stability, everything! Ab pachtane se kya fayda?
Anyone know the details of the NCLT case? Which section was invoked? What's the next step?
You can probably find the order on the NCLT website. Search for Ajnara India Limited. It should have all the details.
Good idea, U16. Will check it out. Thanks!
Bhai, builder log toh loot rahe hain. Pehle paise lete hain, phir project delay karte hain. Koi accountability nahi hai.
Totally agree yaar. Noida mein yahi problem hai. So many delayed projects.
I heard some projects are being taken over by other builders. Any chance of that happening here?
IRP kya karega? Builder toh already bankrupt hai. I've heard horror stories of homebuyers losing everything.
Not necessarily everything, U9. You become a creditor. You'll get some percentage back, eventually. But expect a long wait and significant loss.
Haan, exactly. The chances of getting the full amount back are slim to none. It's a tough situation.
U9, U10 are right. Don't expect miracles. But don't lose hope completely either. Stay informed and participate in the process.
I had booked a flat in Ajnara Ambrosia in Sector 118. Cancelled it after seeing the construction progress. Dodged a bullet, I guess. Sector 118 is a good location though, I ended up buying resale.
Sector 118 is developing nicely. Good choice to buy resale. What's the going rate there now?
Haan yaar, I saw this news too. NCLT proceedings are never a good sign. Paisa phas sakta hai. Anyone know which project is specifically affected?
I've been saying this for years! Ajnara ka track record is shifty. Delayed projects, poor construction quality... I stayed away. But sad to see this for those invested.
Which project are you invested in, OP? I'm in Ajnara Daffodil. Possession is still pending since 2016. This is freaking me out now.
2016?! That's insane! Have you filed a complaint with RERA?
RERA mein kuch nahi hota bhai. Just dates being extended. I'm in the same boat, different builder though.
U4, Daffodil is a mess. I know people who sold at a loss just to get out. Sorry to hear you're still stuck. Maybe try forming an association and collectively put pressure?
Guys, calm down. Insolvency doesn't automatically mean you lose everything. It's a process. The NCLT will appoint an IRP who will try to restructure things. But yes, definitely be worried.
Seriously? Ajnara? Oh bhai, I was considering investing in their Cyber Heights project. This is definitely concerning. Thanks for sharing!