Stay updated with breaking news from Delayed Projects. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
The Authority aims to recover around Rs 468 crore dues through the scheme, which includes waiving off penal interest on the defaulted amount and additional compensation charges.
Chennai saw the highest 90 percent completions of projects launched in this period, followed by MMR and Pune with 89 percent each; NCR saw just 86 projects launched in this period, of which 74 percent are complete.
According to a survey commissioned by UPRERA, there are as many as 45,000 units where buyers have taken possession without registering their ownership, and 1,25,000 units where neither has possession been taken nor has the registry been done.
Builders whose projects are stalled or delayed for more than two years should be blacklisted and barred from launching new projects in future, FPCE’s president said in a letter to housing and urban affairs minister Hardeep Puri
The residents’ welfare association of Klassik Landmark apartment, had registered itself under the Karnataka Cooperative Societies Act, and the stay of that registration had left them in limbo. The court has now given the Deputy Registrar of Cooperative Societies two months to consider the appeal and dispose of the case.