Landing condos . The Vaughan apartment was sold and rebuilt. Property buyers unite to safeguard their rights. A developer had twice planned to build an apartment in the Vaughan metropolitan center, but now he has listed the three acres of land in West Highway 7 and Edgeley Boulevard for sale.Please Visit: Landing condos to Get Your VVIP Registration Today!
The property is owned by 1966711 Ontario Inc. Have. It was then sold as Icona apartments by Gupta groups, Steve Gupta and Icona Developments.
The project sold out in 2017 and was cancelled the following year. But there are still about 450 legal buyers of apartments, and although the deposit has been returned to them, they protest that Gupta had no right to sell the apartment in the first place.
On Friday, Gupta,Icona and lawyers for the 1966711 company told Ontario Superior Court in Newmarket that the buyer would have been informed of the agreement to sell the property from the beginning and the expiration date of the agreement.
After the cancellation of the Icona project, the city of Vaughan approved the developer to proceed with another development, building three towers at the site, including 1649 houses and 260 hotel rooms, as well as conference facilities and underground parking.
The city of Vaughan said on Friday that the application had been approved by the city council in June 2018.
In a flyer from CBRE, a commercial real estate agent, the land is described as an “approved skyline development opportunity”. It “will redefine the luxury life of the Vaughan Metropolitan Center.”
A spokesman for CBRE said the company would not comment on the property.
The buyer of the Icona apartment claimed in the court application that Steve Gupta,Gupta Group,Icona and 1966711 Ontario Inc. Canceled the apartment, violated the contract.
The buyer also argued that the developer had no right to sell the apartment on the land because it was bound by a restrictive contract and Gupta could not build a house on the property.
Gupta’s lawyer, Andrew Parley, said he would not comment on the case before the trial.
Buyers of Icona say they don’t know why such properties can be sold on the market.
“(Gupta) is developing it, and he’s been applied twice. Either way, it looks like a good investment. I don’t know why he sold the land when the market was hot. ” The buyer Patricia DeBartolo said.
She said it was not clear whether buyers could continue to sue Gupta in court if Gupta sold the land and no longer owned it.
Another buyer, Melissa Jardim, said she had confidence in the judicial system.
“I think we have a legal dispute with him, and he can’t buy this land. To me, it is inconceivable that Gupta Group twice sought approval of the plan from Vaughan and then suddenly started selling. ” She said.
The claim submitted by the buyer will be heard from 7 to 8 September.