Greater Noida: The Greater Noida bench of the Uttar Pradesh Real Estate Regulatory Authority (UP-Rera) on Wednesday ordered the formation of a tripartite committee for the crowning glory of a 144-apartment residential mission in Greater Noida’s Sector Chi V, Kamrup Housing. The mission used to be launched in 2012 with a promise of supply in 2015.
Officials said the committee will have on board a member of UP-Rera, a consultant for homebuyers and the builder. And if a success, this style could be created for crowning glory of different pending projects as well.
“This is a method we're going to use for such projects where the builder has the intent to complete the similar but has been held up through a tentative monetary problem. In such cases, a committee will likely be formed and an escrow account will likely be created to pool in finances to drive the mission to crowning glory,” UP-Rera member Balwinder Kumar advised TOI.
“UP-Rera will likely be playing the position of a conciliatory to facilitate crowning glory in addition to to regulate cash flow. If this style works for this actual mission, we can create such committees for a number of other projects which are of their ultimate leg final touch,” he added.
Launched in 2012 as a restricted edition reasonably priced luxury mission, the developer to start with bought 111 flats of which the offers of 31 flats have been cancelled later.
The mission used to be bought on a construction-linked plan and used to be due for supply in 2015. The three and five bed room flats have been bought for Rs 99 lakh and Rs 1.7 crore, respectively. However, in step with consumers, the mission is incomplete and there has been no construction paintings on the website since 2016.
The mission is constructed on a 2.5 acre land with 64 unsold flats. The escrow account will likely be created with a deposit of Rs 60 lakh to start out the pending paintings.
Officials said the committee will have on board a member of UP-Rera, a consultant for homebuyers and the builder. And if a success, this style could be created for crowning glory of different pending projects as well.
“This is a method we're going to use for such projects where the builder has the intent to complete the similar but has been held up through a tentative monetary problem. In such cases, a committee will likely be formed and an escrow account will likely be created to pool in finances to drive the mission to crowning glory,” UP-Rera member Balwinder Kumar advised TOI.
“UP-Rera will likely be playing the position of a conciliatory to facilitate crowning glory in addition to to regulate cash flow. If this style works for this actual mission, we can create such committees for a number of other projects which are of their ultimate leg final touch,” he added.
Launched in 2012 as a restricted edition reasonably priced luxury mission, the developer to start with bought 111 flats of which the offers of 31 flats have been cancelled later.
The mission used to be bought on a construction-linked plan and used to be due for supply in 2015. The three and five bed room flats have been bought for Rs 99 lakh and Rs 1.7 crore, respectively. However, in step with consumers, the mission is incomplete and there has been no construction paintings on the website since 2016.
The mission is constructed on a 2.5 acre land with 64 unsold flats. The escrow account will likely be created with a deposit of Rs 60 lakh to start out the pending paintings.
Rera member on panel to complete housing project
![Rera member on panel to complete housing project]()
Reviewed by Kailash
on
November 30, 2018
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