What if the project is stalled and builders do not have sufficient funds to complete the project. In such cases question arises that does RERA authorities have the power to take over the project?
An RC was issued for recovering 3.04 crores, based on the same a 15 days’ notice was issued to clear the dues post which due to non-compliance builders were arrested.
The UPRERA asked the builders to get their sale agreements registered, which will be necessary for the home buyers to seek interest in case of a delay in granting possession by a developer.
UPRERA Authority shorlisted 10 housing project in Noida and Greater Noida, which may be deregistered within this month for the reasons of delays and non-compliance of the orders passed by the Authority.
There are many uncompleted projects which are still lying abandoned or molding into structures at a very slow pace.
UP-RERA authority has issued show cause notices to 12 builders who have allegedly diverted funds worth 3000Cr to 4000Cr and have delayed completion of housing projects.
The Lucknow bench after hearing a series of complaints against Ansal’s in particular, it has ordered for the forensic audit of the builder, as the bench thinks the homebuyer is genuine hence it has put restrictions upon the activities of the Ansal.
Western UP Bench of RERA- After looking at the bulk cases in the state a bench was made operational in the city of Noida on 4th September, 2018.
In the cases against Ansal API Group one of the member Mr. Balwinder Singh has ordered Ansal Properties & Infrastructure Pvt. Ltd. to dispose off the grievances of the allottee within a week.
The delay in projects got converted from months to years shattering the dream of owning a home of many homebuyers. A detailed article on how to get refund from the builders under RERA.