Haryana CM Orders Review of Real Estate Projects
Haryana's Chief Minister, Manohar Lal Khattar, issued directives on Thursday to assess the current standing of residential and commercial ventures that had recently acquired licenses. This action stems from a surge in grievances lodged against real estate developers.
Grievances Addressed in Gurgaon
During a district injustice committee meeting held in Gurgaon, Chief Minister Khattar paid attention to complaints voiced by home buyers. Subsequently, he instructed the deputy commissioner of Gurgaon to compile comprehensive data regarding projects currently under construction by various developers.
Government Review of Unitech
In response to the numerous complaints lodged against the company, the state government is diligently evaluating Unitech's obligations and financial interests both within India and internationally. The state government intends to evaluate the benefits and duties of Unitech in the country and abroad, given the volume of complaints.
Official Statements
T L Stayaprakash, the deputy commissioner, conveyed that "Chief Minister Khattar has mandated the collection of all project-related components from developers who have received licenses in the past from the DTCP (Department of Town and Country Planning) for residential and commercial developments."
The individuals stated that details encompassing the number of units, towers, sold units, payment details from home buyers, and the current condition of each project will be gathered. The plan includes collecting data on the count of units and towers, the volume of units sold, specifics of payments received from home buyers, and the current health as well as status of the scheme.
Aiming for Transparency
If successfully executed, this initiative could revolutionize the real estate sector by fostering greater transparency, which has been historically lacking. The DTCP grants licenses to developers based on land details, and these licenses often pertain to group housing societies, commercial projects, and plotted colonies. Currently, the DTCP does not maintain records of the number of towers or units, sales figures, or payments collected from buyers for projects constructed under their licensed criteria.
Relief for Home Buyers?
This measure could offer respite to individuals allotted housing units in various stages of completion. It has been frequently observed that buyers endure extended waiting periods for possession, even after remitting the majority of payments. The restlessness among buyers is escalating due to construction halts in numerous projects, some spanning two years, with developers providing unsatisfactory explanations for delays and continuously extending project completion deadlines.
Emmar MGF Palam Hills Case
The Chief Minister's directives ensued after addressing concerns raised by home buyers of Emmar MGF Palam Hills in Sector 77. These buyers lamented that the developers were intentionally delaying the handover of keys. Pankaj Kalra, a home buyer and complainant, stated that this project, comprising 1,100 apartments across 65 towers, was launched in March 2010 in Sector 77, Gurgaon. He added that as per the agreement, the developer was obligated to deliver the flats within 36 months, including a three-month grace period from the start of construction, which expired in February 2014, and that buyers had already disbursed 90-98% of the total cost by the end of 2013, but the project remains far from complete.