Uttar Pradesh Real Estate Regulation Authority (UP RERA) reviewed the progress of 76 realty projects from National Capital Region (NCR) with their promoters at the beginning of July 2021. The meetings were chaired by Rajive Kumar, Chairman, and attended by several members, namely, Kalpana Misra, Balvinder Kumar, Bhanu Pratap Singh, Principal Advisor Abrar Ahmed, Secretary Rajesh Kumar Tyagi, and other senior officials of UP RERA.
Rajesh Kumar Tyagi, Secretary, UP RERA, said, “The meetings helped assess the completion of the projects and ensure the compliance of UP RERA orders to the allottees. The projects reviewed include the ones whose registration has lapsed and whose promoters are unable to complete the projects within the registered period. The issues of non-completion of the projects were also discussed.”
The promoters presented the completion plan for their projects, current status, funding sources, map validation, occupancy and completion certificates, as well as pending dues in these meetings.
“UP RERA also took stock of the non-complied orders relating to handover of the possession or refund to homebuyers,” he further added.
Rajive Kumar, Chairman, UP RERA, stated that it is paramount to comply with the pending orders, and directed the promoters to do so within three months, failing which, strict action would be taken against them.
In their defence, the promoters offered explanations for the inability for timely completion of projects and presented corrective measures to complete the project within the stipulated timeline.
“Even after six months extension of the registration of the project, on account of Covid-19 pandemic, the work could not gain momentum due to lack of funding, shortage of labourers, and issues in procurement of construction materials,” the official statement stated.
UP RERA informed the promoters that it had taken into account the inspection reports of the projects conducted by professionals and directed the promoters to submit a concrete plan for completion of the delayed projects. It further said the remaining projects would be reviewed in the upcoming two weeks.
Source: Business Standard