Just a couple of months after its grand entry into North India, Trump Tower in Gurugram has been facing obstacles.
Just a couple of months after its grand entry into North India, Trump Tower in Gurugram has been facing obstacles.
Haryana’s Town and Country Planning Department (TCPD) has raised objections to the launch of the project before the grant of joint development and marketing rights to Olive Realcon Pvt Ltd, for which the rights were sought by the licencee, reported the Hindustan Times.
According to the newspaper, the department has issued a show-cause notice to the project licensee Manglam Multiplex Pvt Ltd, asking it to explain why proceedings should not be initiated against the project developers under section 10 of the Haryana Development and Regulation of Urban Areas Act, two TCPD officials told the publication.
The news report further stated that the matter would also be taken with the Haryana Real Estate Regulatory Authority (HRERA), Gurgram, under section 7 of the Real Estate (Regulation and Development) Act, for revoking the registration of the developers for suspected unfair practices, said an official.
The real estate brand of the USA 'Trump Tower' entered North India in collaboration with firms M3M India and Tribeca Developers. Trump Tower marked its debut with a launch of a luxury residential project earlier this year.
The project involved investments worth Rs 1,200 crore.
The partner firms, M3M and Tribeca, would develop 250 super luxury homes under a brand licence from The Trump Organization, which is currently led by Donald Trump Junior, son of US President Donald Trump.
At present, it is reported that the apartments would have three and four bedroom options, and would be sold at prices ranging from Rs 5 crore to Rs 10 crore. The size of the flats ranges from 3,500 sq ft to 6000 sq ft.
This is the fourth Trump Tower project in India after Pune, Mumbai and Kolkata. M3M India Director Pankaj Bansal said they would soon launch sales of "Trump Towers Delhi NCR", a residential development, at the prime Golf Course Extension Road of Gurugram. Donald Trump Jr., Executive Vice President of the Trump Organization was quoted as saying in a statement: "Trump Towers Delhi NCR will quickly become the most prestigious address in the city.
Trump Organization Executive Vice-President Donald Trump Jr said in a statement: "With its stunning architecture, beautiful interior options and lavish amenity spaces, our goal was to bring the best of the Trump brand and luxury living to Gurugram."
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