Located in Mallampet Village, Medchal-Malkajgiri district, the project was initially scheduled for completion by July 1, 2023, with a grace period extending to December 2023.

However, with significant delays, RERA has directed the developer to finish all pending work within 90 days from November 14, 2024.

The action follows a complaint filed by flat buyers Allam Nagaraju, S. Arun Kumar, and others, who alleged multiple violations, including delays in project delivery and deviations from the approved construction plan.

According to the complainants, Sterling Homes did not adhere to the sanctioned plan, particularly in constructing the clubhouse and ensuring a compound wall to separate the project from its adjacent Phase II development.

They also accused the developer of misleading buyers by sharing amenities between Phase I and II without prior disclosure. Further, they alleged that Sterling Homes relocated the Sewage Treatment Plant (STP) in violation of the approved plan and began work on Phase II before completing Phase I, thereby compromising the rights of Phase I buyers.

In response, Sterling Homes defended itself in its submission to Telangana RERA (TGRERA), citing external factors such as regulatory hurdles, heavy rainfall, labour shortages, and disruptions caused by the pandemic as reasons for the delays.

The developer maintained that the deviations from the approved plan were minor adjustments made to ensure structural integrity and had been approved by the relevant authorities.

Sterling Homes denied allegations of malafide intent, asserting that Phase II construction was initiated only after securing the necessary approvals and that buyers had been informed about the shared amenities.

It further claimed that financial constraints, exacerbated by the complainants’ alleged non-payment of dues, contributed to the delays in completing Phase I.

In its ruling, RERA ordered the developer to complete all remaining work in the Sterling Orchids Phase I project, including promised amenities, strictly in line with the sanctioned plan, within 90 days.

Additionally, RERA mandated Sterling Homes to pay interest at a rate of 10.95% per annum to the complainants for the amounts already paid, as outlined in the Agreement of Sale.

At the same time, the complainants were directed to clear any pending sale consideration amounts within 45 days to facilitate the project’s progress. Both parties have been instructed to fulfill their respective obligations to ensure the project’s timely completion and prevent further disputes.

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The complainant, Sharath, alleged that Buildox was promoting and accepting payments for a project named The Continent located at Kondapur/Hafeezpet without RERA registration.

Sharath revealed that he discovered the project through Facebook, which led to a WhatsApp chat with a person named Kamal. This interaction was followed by a meeting at the Buildox office with a representative, Damodara Prasad, who introduced himself as a director of Hexasky Infra Projects managing Buildox sales.

Assured of the project’s authenticity and promised possession by 2028, Sharath paid a token amount of ₹2 lakh in February. However, he later discovered that the project lacked mandatory approvals and the land was embroiled in legal disputes. Consequently, he filed a complaint with TG RERA.

In its defense, Buildox denied all accusations, asserting that the Facebook page advertising the project was unauthorized and fraudulent.

The company claimed it neither had a project named The Continent nor any association with individuals named Kamal or Damodara Prasad. Additionally, Buildox stated they had not received any payments related to the project. The company further alleged that their attempt to refund ₹2 lakh was obstructed due to a block imposed by the complainant.

Upon reviewing the evidence, TG RERA concluded that Buildox failed to substantiate its claims, including the justification for receiving funds, and did not comply with interim orders to provide bank statements.

The authority determined that Buildox had violated Section 3 of the Real Estate (Regulation and Development) Act, 2016, by marketing and collecting payments without the required approvals.

On November 11, TG RERA imposed a penalty under Section 63 of the Act, instructing Buildox to refund the ₹2 lakh booking amount to Sharath within 15 days. The authority also cautioned the company that failure to comply would result in additional action under Section 63.

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Developers of these projects failed to meet Quarter-End (QE) compliances by not updating the project completion status with GujRERA within the specified deadline or seeking an extension.

This action will affect numerous developers in Ahmedabad, Vadodara, Surat, and Rajkot, as it prohibits them from advertising or selling the remaining units of these projects. Moreover, the developers cannot seek credit for these projects.

“A developer is required to adhere to project-completion compliance norms laid out by GujRERA. This means the details of project completion must be updated with GujRERA by the date mentioned at the time of registration.

In case the developer fails to complete the project by the specified date, an extension needs to be sought from GujRERA. The authority learned that developers have not completed compliance for at least 1,000 projects, or even applied for extensions,” said a top GujRERA official, requesting anonymity.

“We have canceled the registration of all such projects,” added the official. Most of these projects were launched in 2018-19 and had promised a project completion date in the first half of 2024, according to the official.

GujRERA has also provided details of each of these projects to the State Level Bankers’ Committee (SLBC) – Gujarat, urging them to freeze RERA-registered bank accounts of all these projects.

“This means developers of these projects cannot sell the remaining units because they cannot receive money in the registered bank account. Additionally, as RERA registration is canceled, they cannot advertise the project,” the official stated.

Interestingly, these 1,000+ projects also include those that are already completed, and buyers have been granted possession. “However, in many such cases, the Building Use (BU) permission is pending, and therefore, developers are not able to complete the QE compliance.

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“Investors fall into a trap,” he stated, noting that many wealthy people buy multiple apartments in the hopes of making extraordinary profits.

According to Kumar, these investors only pay up to 30% of the overall cost of the units; after that, they cease making payments in installments and ignore builders’ reminders.

Then, he claimed, real estate developers are compelled to cancel the units, which causes conflicts with tenants.

“You (the builder) go to RERA before the person who is not paying on time if you discover any issues.” Because you are also intended to benefit from RERA, not only the allottee,” Kumar informed developers.

He pointed out that the RERA law has clauses allowing builders to revoke unit allotments and proceed if a payment is not made on schedule.

If builders do not take action against these investors, Kumar said, their “financial cycle will be disrupted” and projects will stagnate.

After being approved by Parliament in March 2016, the Real Estate (Regulation and Development) Act, or RERA, became operative on May 1 after 69 of its 92 sections were notified. In November 2018, a notification was issued establishing the Real Estate Regulatory Authority for the National Capital Territory of Delhi, also known as Delhi-RERA.

Kumar requested that builders abide by the RERA legislation. In addition, he discussed the shortage of skilled and semi-skilled workers in the real estate industry and insisted that training is necessary.

Kumar stated that illegal colonies are a problem in places like Delhi, Noida, and Gurugram. “If we curb unauthorized development, then we can have 5,000 houses in the same land where we have 1,000 houses,” he remarked.

The Chairman and Managing Director of HUDCO, Sanjay Kulshrestha, emphasized that real estate developers must push into non-metropolitan and smaller centers, noting that roughly 3% of the nation’s land contributes to 60% of GDP.

Neel C. Raheja, Group President of K Raheja Corp. and Chairman of the CII National Committee on Real Estate and Housing, stated that the real estate industry is one of the fastest expanding and is the second largest employment after agriculture.

“We are at the forefront of employing people, educating them, and giving them better employment opportunities,” he continued.

According to Raheja, the real estate industry is predicted to account for 7.5% of GDP now and increase to 15.5% of GDP by 2047. By 2047, the real estate industry is predicted to account for 15.5% of GDP, up from its current 7.5% share, according to Raheja.

In 2023, almost 60 million square feet of office space will be leased, according to Khattar. “A major accomplishment has been made. This demonstrates to the rest of the world the nation’s legitimacy as an office,” he continued.

The post Builders who witness clients failing to make timely payments must register complaints: Chairman of Delhi-RERA appeared first on .

As per the regulations, real estate project promoters are required to furnish the QPR detailing the current state of their housing and planned projects to the homebuyers who have put their hard-earned money in them.

The Real Estate (Regulation and Development) Act, 2016 requires the promoter to submit specific statutory compliances of the registered projects within their validity time, according to ORERA’s directive.

According to the Act, the promoter must update the QPR for the projects listed on the authority’s website. Additionally, it said that the individual must have a chartered accountant analyze his finances within six months of the conclusion of each fiscal year and upload the results to the Internet.

It stated that even though the authority had previously given all promoters until October 15, 2023, to submit all legislative compliances—including any ongoing ones—many promoters had failed to follow the instructions.

“We have sent the letters to the promoters and requested that they respond by January 24 at the latest. The Act will be followed, and required action against any promoter who does not respond promptly will be taken, according to ORERA Chairman Siddhanta Das.

According to officials, ORERA is authorized by the Act to penalize promoters who violate this rule. They stated that each quarter of a given year’s QPR must be posted on the ORERA website within 15 days of its expiration.

According to the ACT, promoters may be fined Rs 5,000 for each missing quarter, with an additional Rs 10,000 for each succeeding missed quarter. ORERA has the right to cancel the promoter’s registration if they neglect to submit the QPR or pay the punishment.

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