Complete real estate projects or Authority will get them completed, UPRERA’s clear message to developers

By: | Published: March 11, 2019 4:46 PM

Even as nearly 53,000 flats are likely to be delivered by December, in projects where promoters are not forthcoming Authority will get them completed, Rajive Kumar, Chairman, Uttar Pradesh Real Estate Regulatory Authority (UPRERA)

Amrapali, Amrapali book flats in name of peons, Benami flats, Amrapali Group, Chandan Mittal, Vivek MittalRecently, the Authority issued deregistration notices under Section 7 of the RERA Act.

Even as nearly 53,000 flats are likely to be delivered by December, in projects where promoters are not forthcoming Authority will get them completed, Rajive Kumar, Chairman, Uttar Pradesh Real Estate Regulatory Authority (UPRERA) told The Indian Express. Recently, the Authority issued deregistration notices under Section 7 of the RERA Act to 7 builders for failing to meet their commitments to buyers covering 14 projects and about 4,800 residential units.

The section says that directions can be issued by the Authority to see the projects are completed so need to finally go to the level of de-registration doesn’t arise. “This experience will benefit everyone as others could see it as a shape up kind of warning”, he added.

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“The process is that in consultation with the state government, the future course of action will be decided and the buyers association has the first right of refusal in getting together and completing. So, we will first offer it to them,” he noted.

Various projects have been stuck on account on issues including required liquidity, he also said.

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The Authority issued notices to the developers including Primrose Infratech for Primrose Ryne project, PSA Impex for Sampada Livia, MSA Developer for Circuit Heights, Greenbay Infrastructure for Greenbay Golf Homes & Golf Village, Intellicity Business Park for Intellicity project, Mist Direct Sales for Festival City Phase 1,2,3 and Unnati Fortune Holdings Ltd for the Aranya Phase 3,4,5.

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