Noida: World Tower One buyers demand refund from project’s promoters

NOIDA: Property buyers on Monday demanded their money back from the promoters of Noida World One Tower in Sector 90, alleging that the promoters neither delivered the project nor paid the assured returns as promised during the sale.

“I booked a commercial unit of 600 square feet (sqft) in Noida World One sector 90 Noida on December 27, 2013. The unit cost almost ₹60 lakh and I paid 50%. Now after 12 years, we have come to know that we were not eligible buyers as this unit could not be sold to non-captive users (any third party who is not a member of the cooperative society). We would never be able to get the tripartite lease deed registered in our favour,” said Sumbul Siddiqui, a buyer.

Anita Yadav, Neelam Singh, Ruchi Yadav, Nirmal Yadav and Deepika Yadav were among others who booked 2 units of 850 sqft each for ₹2 crore in Sector 90 project.

“There are many like us who had booked the units and yet to get the delivery including assured returns. We demand that the Noida authority or other government bodies come forward to help us,” said Anita Yadav, a buyer.

“We would never be able to get the tripartite lease deed registered in our favour. The builder also showed us fake layouts which had the 2 commercial floors as lower ground floor and upper ground floor. Whereas the layouts submitted to Noida authority were for ground floor and first floor. The Noida authority must look into it,” said Neelam Singh, another buyer.

Notably, the promoters including Sanjay Rastogi, Meenu Rastogi, Ishan Rastogi and Vasu Rastogi of realty firm- CBS international projects private limited had in November, 2013 launched an IT Park having office spaces on 25 acre project in sector. It was to be delivered in three years.

Currently the project is partially ready and yet to be delivered.

The promoters were not available for the comments despite repeated attempts.

The buyers alleged that these promoters made fake documents related to occupancy certificates issued by the Noida authority to cheat buyers.

On Monday, the investors and buyers of this project during a press briefing held in Sector 29 said that the Bhutani Infrastructure in October 2024 signed an agreement with these promoters to deliver the project and address the issues related with assured returns.

“After the Bhutani Infrastructure came into agreement around 70 percent buyers out of 400 got their issues resolved. But the issues of the remaining are yet to be addressed. We request from the government officials to intervene and help us,” said Raj Tahlani, a buyer.

“We have tried our best to help the buyers so that they can resolve their issues in this project. To help stuck buyers, we signed an agreement with the promoters of these projects. But we came to know that the promoters have made false commitments and made many mistakes. As a result, we ended our association in January 2025 with the promoters and this project. We neither bought any land nor made any investment in this project,” said Ashish Bhutani, chief executive officer of the Bhutani Infrastructure.

“We make it clear that we are not responsible for any buyers who make investment in this project as we have got no association with the project,” he added.

The Noida authority chief executive officer Lokesh M was not available for his comments on the issue.