Fwd: BPTP - Delhi homebuyers kept waiting as developer ‘bought’ NY condo
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Groovi Bhoovi
Feb 11, 2015, 11:14:03 PM2/11/15
to Groovi Bhoovi
Thanks for the share. Hope Builders stop making mockery of honest, tax paying, law abiding home buyers.
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From: xxxxxxxxxx
Date: Wed, Feb 11, 2015 at 9:46 PM
Subject: BPTP - Delhi homebuyers kept waiting as developer ‘bought’ NY condo
To: Groovi Bhoovi <groovi...@gmail.com>
11 Feb 2015
Hindustan Times (Delhi)
HT Correspondent let...@hindustantimes.com
Delhi homebuyers kept waiting as developer ‘bought’ NY condo
WASHINGTON: A 4,050-square-foot condominium at one of New York City’s
most upscale addresses has five bedrooms, a playroom, a breathtaking
view and a mysterious owner.
Records shows the condo, 68AF, Time Warner Center, is owned by NYC
Real Estate Opportunities, a company registered in Delaware, US with a
Singapore address.
The New York Times, which has been investigating foreign ownership of
Time Warner condos, has linked it to Kabul Chawla, a Delhi real estate
developer who owns BPTP.
Chawla has admitted to staying there with his family but told the
Times the condo belongs to his cousin, Aneil Anand, who is listed as
the purchaser. Anand had not responded to the NYT’s request for
comments.
When contacted by HT, the BPTP spokesperson also denied that the
condominium belonged to Chawla adding that Anand was its owner.
The apartment was bought in February 2012 for $19.4 million, around
the time complaints peaked about delays in the delivery of properties
developed and sold by BPTP around Delhi.
The report cited many instances of these delays, going up to six
years. Frustrated buyers have had to resort to street protest, and
courts to get their money back.
Time Warner Center has 192 condos, and two-thirds of them are owned by
shell companies fronting for foreign buyers, the Times has reported in
a series of investigative articles.
In the case of 68AF, the Times said, real ownership may have remained
a secret if not for a lawsuit that brought out into the open details
mentioned in emails exchanged by brokers.
xxxxxxxxxxxxxxx
From: xxxxxxxxxx
Date: Wed, Feb 11, 2015 at 9:46 PM
Subject: BPTP - Delhi homebuyers kept waiting as developer ‘bought’ NY condo
To: Groovi Bhoovi <groovi...@gmail.com>
11 Feb 2015
Hindustan Times (Delhi)
HT Correspondent let...@hindustantimes.com
Delhi homebuyers kept waiting as developer ‘bought’ NY condo
WASHINGTON: A 4,050-square-foot condominium at one of New York City’s
most upscale addresses has five bedrooms, a playroom, a breathtaking
view and a mysterious owner.
Records shows the condo, 68AF, Time Warner Center, is owned by NYC
Real Estate Opportunities, a company registered in Delaware, US with a
Singapore address.
The New York Times, which has been investigating foreign ownership of
Time Warner condos, has linked it to Kabul Chawla, a Delhi real estate
developer who owns BPTP.
Chawla has admitted to staying there with his family but told the
Times the condo belongs to his cousin, Aneil Anand, who is listed as
the purchaser. Anand had not responded to the NYT’s request for
comments.
When contacted by HT, the BPTP spokesperson also denied that the
condominium belonged to Chawla adding that Anand was its owner.
The apartment was bought in February 2012 for $19.4 million, around
the time complaints peaked about delays in the delivery of properties
developed and sold by BPTP around Delhi.
The report cited many instances of these delays, going up to six
years. Frustrated buyers have had to resort to street protest, and
courts to get their money back.
Time Warner Center has 192 condos, and two-thirds of them are owned by
shell companies fronting for foreign buyers, the Times has reported in
a series of investigative articles.
In the case of 68AF, the Times said, real ownership may have remained
a secret if not for a lawsuit that brought out into the open details
mentioned in emails exchanged by brokers.
xxxxxxxxxxxxxxx
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