Noida buyers seek refunds over alleged occupancy fraud

Property buyers in Noida are asking for refunds from the promoters of the World One Tower project. They claim the promoters failed to deliver the project and did not pay the promised returns. Buyers, such as Sumbul Siddiqui, have expressed frustration. Siddiqui said she paid ₹30 lakh for a unit in December 2013, but now realizes she was not eligible to buy because the unit cannot be sold to non-members of the cooperative society. Many others are facing similar issues. Other buyers, like Anita and Neelam Yadav, also reported problems. They bought two units for ₹2 crore each and have not received their investments or promised returns. Neelam Yadav added that the builder provided misleading layouts and false occupancy certificates. The World One Tower project was launched by CBS International Projects in 2013 and was supposed to be finished within three years. However, it remains incomplete. Buyers have accused the promoters of using fake documents to deceive them. In October 2024, Bhutani Infrastructure signed an agreement with the promoters to help resolve buyer issues. Since then, about 70 percent of the issues for 400 buyers have been resolved, but many problems still persist. Bhutani's chief executive, Ashish Bhutani, stated that they ended their association with the project in January 2025 due to false commitments from the promoters. The CEO of the Noida authority, Lokesh M, has not commented on the situation. Buyers are now urging government officials to step in and assist them.