CGEWHOCentral Government Employees Welfare Housing Organisation (India)
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The CGEWHO had planned to build 872 flats, in addition to the 2,000 already built, in Gurgaon owing to the rising demand for accommodation.
" As property prices began escalating a year later the CGEWHO received a request from Capital Builders in March 2005 stating that due to rise in market prices, the land offered earlier was no longer available at the quoted price.
In January 2006, the builder transferred 14.468 acres in CGEWHO's name but the project suffered because part of this land was acquired by the Haryana Urban Development Authority ( HUDA) for one of its road projects.
If inflation was the reason then it is worth mentioning that the CGEWHO had already factored that in and, in its papers, had mentioned that the costs can be increased by three per cent per year till 2012," a senior official who has booked a flat said.
Sources said the CGEWHO was backing the hiked prices by saying that the area of each flat had been increased.
" The picture on the CGEWHO website clearly shows that the basic structure is ready.