1. Property market in India: Narendra Modi government adopts tough stance against delayed projects, set to take this step

Property market in India: Narendra Modi government adopts tough stance against delayed projects, set to take this step

The ministry of housing and urban affairs will create a central database of delayed real estate projects. It has sought the details of delayed projects from all the states for this purpose.

By: | New Delhi | Published: December 6, 2017 5:17 AM
Property market, delayed real estate projects, real estate projects, Narendra Modi government The ministry of housing and urban affairs will create a central database of delayed real estate projects. It has sought the details of delayed projects from all the states for this purpose. (Reuters)

The ministry of housing and urban affairs will create a central database of delayed real estate projects. It has sought the details of delayed projects from all the states for this purpose, a senior official at the ministry said. “In most of the states, the regulatory authorities have started working and builders have started registering projects with all requisite details. It will now be easier to get data,” the official said. Last month, the Bombay High Court had asked the housing and urban development ministry to provide details and the number of delayed projects. The Bombay HC has been holding daily hearings of cases filed by real estate developers challenging the Real Estate (Regulation and Development) Act and seeking to keep incomplete projects out of the central law. The court will pronounce judgement on the petition on Wednesday. Though the housing ministry had been working on a real estate regulation law for more than eight years, it did not have any official data about the number of delayed projects and houses. Earlier this year, pan-India home buyers’ group Fight for RERA had urged the government to start collecting data on all incomplete projects across India and track the number of home buyers in these projects. “The projects should be categorised as normal and high-risk and, accordingly, steps should be taken by your government in high-risk projects so as to safeguard the interest of home buyers in these projects,” it had written to PM Narendra Modi. According to data from real estate rating and research firm Liases Foras, about 29.23 lakh units of under-construction houses are delayed.

  1. M
    Manohar Kannoly
    Dec 9, 2017 at 10:21 pm
    Am a victim of very delayed real estate project by Jain Housing . How do I go ahead? Can I approach RERA directly or consumer court or any legal advocate? Can someone assistant me? Regards / Manohar
    Reply
    1. Y
      Yash
      Dec 6, 2017 at 12:42 pm
      Good going by narendra modi government, I request PM to take all real estate builders like gruha Kalyan, TGS, dreams Gk investers should get justice by getting their dream house under modi gi government.
      Reply
      1. Harvinder Maini
        Dec 6, 2017 at 10:09 am
        Daily new JUMLA of FANKU, but nothing on ground level
        Reply
        1. Manoj Deshmukh
          Dec 11, 2017 at 1:51 pm
          RERA is strongly being implemented by BJP ruled states. See cases on rera to understand ground reality. RERA should had been implemented 30 years ago but corrupt friendly congress did not implement it.
          Reply
        2. I
          Ibnsuleman
          Dec 6, 2017 at 9:27 am
          Where part Occupation Certificate is received meaning say if the Tower is twenty storied and O C received is only for ten stories from the ground,the project should be considered incomplete and brought under RERA. Such projects should also be considered as incomplete and counted under this proposed scheme. The list of such projects also be prepared and acted against where conveyance is not given and where government registered societies are not made by the builders and charge is not handed over to them.
          Reply

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