Gurgaon Real Estate Projects under scanner

gurgaon real estate

Concern over increasing number of complaints against real estate developers, Haryana chief minister Manohar Lal Khattar on Thursday directed to seek status of projects of the developers who have been given licenses in recent past for developing residential and commercial projects.

After listening to the complaints of home buyers at district grievance committee meeting in Gurgaon, CM directed deputy commissioner of Gurgaon to collect details of all the undergoing projects of different developers. State government is already taking stock of Unitech’s assets and liabilities within the country and abroad, following number of complaints against the company.

“Chief minister has asked to develop a standard format to collect details of projects from all the developers who has been given licenses by department of town and country planning (DTCP) in recent past for developing residential and commercial projects,” said deputy commissioner TL Stayaprakash. He said details of individual projects like number of towers in the project, number of units, numbers of units sold to buyers, details of payment collected from home buyers and status of the project will be collected.

If implemented then it would be a big policy change for real estate sector and it will bring transparency in the sector, which has remained largely unregulated. Till now licenses are issued by DTCP to developers only by providing the details of land and licenses are given for developing group housing societies, plotted colony and commercial project. At present DTCP do not keep records of details like number of towers, number of units, number of sold out units and payment collected from buyers for the project developed on the basis of license given by them.

The move could provide relief to allottees of various housing projects under different stages of development. In most of the cases, home buyers have made most of the payment but still they are waiting for possession. The buyers are getting anxious as work has stopped at many of these projects for last around two years and developers have failed to give satisfactory reason for delay and timeline for the completion of delayed projects.

The CM’s direction comes after listening to the problem of home buyers of Emaar MGF Palam Hills in sector 77. Home buyers alleged before CM that the developer is intentionally cheating and dishonestly delaying the delivery of property. “Emaar MGF Palam Hills, which has 1100 flats in 65 towers was launched in March 2010 in sector 77 of Gurgaon. The developer as per agreement should have delivered the possession of the flats in period of 36 months, including 3 months grace period from the date of start of construction, which expired in February 2014,” said Pankaj Kalra, home buyer and complainant. He said buyers have already paid 90-98% of the cost by the end of 2013, but project is far from completion till date.

Source: ET Realty




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