BPTP SkyNest: ₹750 Crore Sales Pitch on the Same Licensed Land Where Old Buyers Still Fight for Schools, Power and Promises

While BPTP Limited’s press releases and news wires celebrate SkyNest in Sector 80, Greater Faridabad, as an “ultra-luxury” success with approximately ₹750 crore in sales from 150 apartments (average ticket size around ₹5 crore), a pending representation before the Haryana Real Estate Regulatory Authority (HRERA), Panchkula, and years of documented buyer grievances tell a far less glamorous story about the same land parcel.

SkyNest, registered under HRERA-PKL-FBD-881-2026 dated 9 April 2026 and valid until 31 March 2033, sits on roughly 5.4 acres that form part of the original Licence No. 44 of 2008 granted for a 16.331-acre group housing colony. That licence also covers the older Discovery Park project (RERA registration 297 of 2017 covering 10.74 acres, Towers A, B, F, G, H, J, K, L, M and EWS). Allottees of Discovery Park have approached HRERA alleging that the promoter bifurcated the licensed area, obtained revised building plans dated 5 March 2026 without the prior written consent of two-thirds of the allottees (a requirement under Section 14 of the Real Estate (Regulation and Development) Act, 2016, and a DTCP public notice of 18 July 2022), and marketed a new high-rise project while reducing the common amenities originally promised for the full colony.

According to the representation (Item No. 327.37, first heard 29 July 2026 and repeatedly adjourned, including to 9 September and 16 September 2026), the original building plans approved on 27 June 2012 envisaged 12 main residential towers of 15 floors each, EWS housing, a nursery school, a primary school, a shopping complex and a clubhouse over the entire 16.331 acres. The allottees state that only nine towers and two EWS towers have been developed, schools and other facilities remain undelivered, and the remaining land has been re-planned for two high-rise towers under the SkyNest branding. They further allege that Discovery Park was sold between 2012 and 2015 on the basis of the full integrated layout (as reflected in builder-buyer agreements and the deed of declaration), and that the promoter failed to disclose the bifurcation in the original RERA application. The Authority has issued notice to BPTP and sought its reply; no final order has been passed.

Residents of Discovery Park, whose flats now trade in the ₹2 crore range, have separately reported persistent basic-service failures to local media: absence of individual electricity connections years after possession began in 2019, reliance on single-point supply with frequent outages and generator charges, maintenance rising toward ₹9,000, waterlogging, non-functional street lights, and surrounding infrastructure issues. These accounts appear in reports by Dainik Jagran and secondary analyses citing the same pattern across BPTP’s Greater Faridabad developments in Sectors 75–89.

A longer trail of regulatory and judicial findings

The SkyNest controversy does not stand in isolation. BPTP (formerly Business Park Town Planners) and its key directors, including Kabul Chawla and Sudhanshu Tripathi, face a documented record of buyer disputes, refund orders and enforcement actions:

• In September 2025 the Supreme Court, in Rajnesh Sharma v. M/s Business Park Town Planners Ltd. (2025 INSC 1149), enhanced the interest rate on a refund of approximately ₹43.13 lakh from 9% to 18% for a plot booked in 2006, noting the prolonged delay and the developer’s own practice of charging buyers 18% on delayed payments.
• Haryana RERA (Gurugram) has ordered refunds including pre-possession maintenance of ₹1,16,545 with 11% interest plus ₹1 lakh compensation and costs (Park Spacio, July 2026) and approximately ₹18.12 lakh with interest while rejecting a 15% earnest-money forfeiture (Park Terra, March 2026).
• In August 2025 the Enforcement Directorate searched BPTP offices and residences of Kabul Chawla and Sudhanshu Tripathi in a FEMA probe concerning roughly ₹537.5 crore in FDI received in 2007–08 from Mauritius entities (CPI India I Ltd ≈ ₹322.5 crore and Harbour Victoria Investment Holding Ltd ≈ ₹215 crore). The RBI compounded the contravention in September 2026 for a total of approximately ₹4.84 crore (company ₹4.03 crore + ₹40.36 lakh each from the two directors). The ED and subsequent reporting noted allegations of optionality clauses promising assured returns and diversion of funds into fixed deposits and mutual funds rather than project deployment. Compounding closes only the specific FEMA matter; it does not affect other investigations.
• In April 2026 the CBI registered FIR RC2192026E0001 against BPTP Limited, “unknown directors/promoters,” and unknown HDFC Bank officials in connection with a Supreme Court-monitored examination of subvention/loan arrangements linked to the Pedestal project in Gurugram. A search was conducted; BPTP’s writ petition challenging the FIR was not quashed.
• Older police FIRs (including a 2011 Faridabad case involving large numbers of buyers and reported aggregate claims in the hundreds of crores) and consumer-forum orders for delay compensation, refund of club fees collected for facilities never delivered, and other deficiencies have accumulated over more than a decade.

Post-possession protests in Greater Faridabad plotted colonies have repeatedly highlighted the same complaints—water supplied once every 25–40 hours in some blocks, overflowing sewers, absence of individual power connections more than ten years after occupation, and demands that residents fund road repairs. These have been reported by Amar Ujala, Dainik Jagran and other local outlets across 2024–2026.

BPTP continues to launch and market new inventory, including SkyNest (total units reported around 325, GDV earlier indicated near ₹1,800 crore) and other Sector 80 offerings, while older projects remain subject to extension hearings, lapsed-status queries and unresolved buyer claims. The company has stated in various forums that it has delivered more than 25,000 homes and maintains a substantial NCR presence; individual case outcomes and regulatory orders, however, record repeated findings of delay, deficiency and, in the FEMA matter, contravention.

What the record actually shows

No court has convicted BPTP Limited, Kabul Chawla or any director of criminal fraud in the matters described above. The HRERA representation on SkyNest/Discovery Park remains at the notice and reply stage. FEMA compounding is a civil settlement of a specific contravention, not an acquittal of other allegations. RERA and consumer orders are civil/regulatory findings of deficiency, not criminal convictions. Allegations of fund diversion, incomplete infrastructure and consent violations are precisely that—allegations pending final adjudication.

That distinction does not erase the pattern. The same promoter that is now selling ₹5 crore apartments on land carved from a 2008 licence whose original allottees say they were promised schools, a full tower count and integrated amenities is simultaneously facing multiple active regulatory proceedings, a compounded FEMA case involving more than ₹500 crore in foreign investment, a live CBI FIR, and a Supreme Court order that treated a nearly two-decade delay as serious enough to double the interest rate. Greater Faridabad residents continue to report that basic utilities remain incomplete years after they paid for them.

Enforcement agencies, RERA authorities and the courts should accelerate the pending matters: conclude the SkyNest representation with a clear finding on the consent and bifurcation issues; complete the CBI investigation and decide whether named individuals should be charged; and ensure that any further sales or construction on the disputed parcel are subject to transparent status reports that original allottees can actually access. Homebuyers who paid for a colony with schools and full infrastructure should not be left watching a new luxury brochure appear on the same licence while their own complaints are repeatedly adjourned.

Disclaimer: All references to complaints, FIRs, searches and representations are allegations or pending proceedings unless a final judicial or regulatory order has already recorded a finding. No court of law has convicted BPTP Limited, Kabul Chawla or any associated person of criminal offences in the matters discussed. Readers should treat unverified social-media claims with caution and rely on primary orders of HRERA, the Supreme Court, RBI, ED and CBI where available.