On Friday, the Real Estate Regulatory Authority (RERA) in Gurugram conducted inspections of eight under-construction real estate projects. These projects are being considered for an extension to their completion deadlines, ensuring the timely handover of units to allottees. The inspection was aimed at assessing the current status of these developments and determining the necessity for additional time.
Projects Under Inspection
The projects inspected by RERA Gurugram include:
- Signature Global Prime
- Micasa
- Waterfall Residences
- Signature Global Proxima 1
- SS High Point
- Signature Global City
- Godrej Meridien Phase II
- Eminence Kimberly Suites
These projects are located along the southern and northern peripheral roads of Gurugram. The inspections were conducted to verify the on-ground reality of the construction progress.
Authority’s Objective
Arun Kumar, Chairman of RERA Gurugram, explained the purpose of the inspections, “The authority’s purpose was to see and check the ground reality. Under Sections 6 and 7(3) of the RERA Act 2016, these projects are to be granted extension (additional time) to complete the project and hand over the units to the allottees.”
Legal Provisions for Extensions
Section 6 of the RERA Act allows the Authority to extend the registration of a project upon application by the promoter due to force majeure. The extension is granted in a prescribed form and requires the payment of a fee. Section 7(3) provides additional provisions for granting extensions.
Current Status and Concerns
Arun Kumar, who took charge of RERA Gurugram in December last year, has closely monitored the progress of these projects. He noted that despite being granted extensions under Sections 6 and 7(3), the construction progress in several projects remains unsatisfactory.
In April, Kumar identified 35 under-construction projects and visited these sites to assess the actual progress. Many of these projects had third-party rights created by promoters three to four years ago, and construction work continues even after the expiration of the initially allotted time under Section 5 of the RERA registration.
Implications for Developers and Allottees
The decision to grant additional time under Sections 6 and 7(3) underscores RERA’s commitment to ensuring the completion of projects and the protection of homebuyers’ interests. The inspections and potential extensions are crucial steps to ensure that developers adhere to their commitments and that allottees receive their units without further delays.
Conclusion
RERA Gurugram’s inspection of the under-construction projects highlights the Authority’s proactive approach in overseeing real estate developments and ensuring timely delivery to allottees. By leveraging the provisions of the RERA Act, the Authority aims to address delays and facilitate the completion of these significant projects.
