UP RERA Holds Meeting To Review Progress Of 76 Realty Projects In NCR

The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) held review meetings of 76 projects from the national capital region (NCR) with their promoters between July 5 and July 9, officials said on Friday.

UP RERA Secretary Rajesh Kumar Tyagi said, "These meetings were held with a view to facilitate the completion of such projects and ensure the compliance of the orders of UP RERA with respect to the allottees of these projects."

The meetings were chaired by its Chairman Rajive Kumar and attended by members Balvinder Kumar, Kalpana Misra and Bhanu Pratap Singh, Secretary Rajesh Kumar Tyagi, Principal Advisor Abrar Ahmed and other senior officers of the RERA.

"The projects under review include only such projects whose registration has already lapsed and the promoters have not been able to complete the projects within the period of registration.

"The Authority discussed the issue relating to non-completion of these projects one by one with the promoters concerned," Tyagi said.

During the meetings, the promoters presented the project completion plan, current status of the projects, funding availability, map validation, occupancy certificates and completion certificates, and dues pending with the authority, among others, he said.

"The RERA also took stock of the status of the uncomplied orders of the Authority relating to the handing over of the possession or refund to the homebuyers by the promoters concerned," he said.

UP RERA Chairman Rajive Kumar said compliances of the pending orders of the Authority is most paramount, and directed the promoters to comply with these orders within three months, failing which would invite strict action against them as per law, according to an official statement.

The promoters, on their turn, offered various reasons for their inability to complete the projects within the stipulated timeline and presented the corrective measures to complete these projects, it stated.

"Some of the promoters stated that even after six months extension of the project registration on account of COVID-19 pandemic, the construction work could not get momentum due to lack of funds, shortage of construction workers, and difficulty in procurement of construction materials," it added.

The RERA said it also took into account the inspection reports of these projects conducted by its inspection teams and confronted the promoters with a ground reality as brought out in these reports.

The Authority added that it directed these promoters to submit a convincing and concrete plan for completion of the delayed projects within the time fixed by the authority in the review meeting.

It said it would further review the remaining of the delayed projects with the concerned promoters over the next two weeks.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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