RERA registration of at least 76 projects lapses in UP
New Delhi: The pandemic has started another kind of toll, that of real estate projects. The RERA registration of as many as at least 76 projects has lapsed in Uttar Pradesh without completion. The builders of these projects are not even complying with the orders of UP-RERA authority. The total number of projects whose registration has lapsed could be much higher.
These projects are now lying in doldrums because of paucity of funds, lack of construction workers and problems in procurement of raw materials, according to the builders.
The authority conducted review meetings between 5-9 July with the builders of these projects and 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 meetings, UP-RERA said in a statement.
The Authority also said that it will review the “remaining of the delayed projects with the concerned promoters over the next two weeks”, meaning thereby there could be many more project registration lapses. However, the authority did not specify the number of the total number of projects whose registration has lapsed.
The builders have been told to comply with the orders of the authority other strict action will be taken against the promoters, as per law.