Rera Set To Bring Pending Projects On Track, Ensure Completion With Govt Help, ET RealEstate

July 17, 2023

BHOPAL: The Madhya Pradesh Real Estate Regulatory Authority (RERA) would take stock of the incomplete projects and get it completed with the help of government agencies.

The Madhya Pradesh real estate regulatory authority stated that efforts were made to complete the projects which were incomplete or left without work for long.

Similarly, the projects that have breached the deadline and the extension of deadline have also been ended. The regulatory authority was viewing such projects.

The RERA authority had a meeting with the divisional commissioner and collector Indore in this regard earlier this month. The regulatory authority reviewed such pending projects in Ratlam and Khandwa as well.

The local district authorities were asked to make sustained efforts to complete such projects. Recently, the commission decided to get the incomplete work of three projects through MP Housing & Infrastructure Development Board.

The regulatory authority has the power to take decision on long-pending and incomplete projects that have breached the deadlines.

The regulatory authority stated developers breached the terms and conditions of their contract with buyers in the three projects in question due to which the commission has also issued orders for them to get the money deposited back in the accounts of projects.

The promoters and developers were also asked to provide all information regarding the investors or buyers in the project. The regulatory authority is conducting hearings of buyers and it was expected that it will get the work complete of the projects through MP Housing & Infrastructure Development Board so that the interests of the buyers were safeguarded.

  • Published On Jul 17, 2023 at 11:00 AM IST

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