H-RERA chief to rope in builders, industry bodies to finish delayed projects in Gurugram

H-RERA chief to rope in builders, industry bodies to finish delayed projects in Gurugram
28/08/2018 , by , in News/Views, Uncategorized

The Haryana Rera will devise a mechanism to rope in developers and industry bodies to complete realty projects which have been pending for years, said the regulator’s Gurugram bench chairman KK Khandelwal at a meeting held on Monday.

“We are working on a mechanism, which will be sent to the state government for its approval so that we can deliver as many realty projects as possible,” said Khandelwal.

Earlier at Monday’s meeting, president of National Real Estate Development Council (Naredco) Praveen Jain said many developers were indeed interested in taking over the realty projects that had been pending as their original developers had gone bankrupt or not in a position to complete them owing to multiple reasons.

“In cases where the net worth is positive, many developers are interested to take over and finish the project. We have even approached the state government with such proposals but there was no policy or guideline available for the same,” said Jain.

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