Connect with us

News

900 projects get more time for completion

Latest news on rera

Developers of nearly 900 projects — incomplete and under-construction — that suffered due to the pandemic will be given an extension of six months for completion, Rajesh Kumar Tyagi, Secretary of the Uttar Pradesh Real Estate Regulatory Authority (UP RERA), said on January 25,

The deadline extension was announced by the Uttar Pradesh Government during the lockdown, but the policy initially covered only those projects that were due in 2020.

However, according to a published report, Tyagi said builders of all projects that were under construction on March 26 last year or later will get the benefit, regardless of the scheduled year of completion.

“The cut-off date is March 25. Any project that was under construction March 26 onwards has been given an extra six months to complete, irrespective of the stage in which the project was at the onset of this policy,” Tyagi said.

Noida and Greater Noida have a huge backlog of apartments with buyers waiting for over 10 years for their flats in projects stuck because of delayed construction. In 2020 alone, Noida and Greater Noida had around 50,000 to 60,000 flats due for delivery. In 2021, nearly 50,000 more units have been added to the tally, said the report.

Advertisement

Latest News

News1 day ago

The real estate sector reacted cautiously to the Union Budget 2023. Here are the excerpts from a cross section of industry stalwarts

Harsh Vardhan Patodia, President, CREDAI National “Through the Union budget 23 – 24, the Government continues to focus on the empowerment...

News1 day ago

Affordable housing gets push in Budget 

New Delhi, Feb 1, 2023:  Union finance minister Nirmala Sitharaman on Wednesday announced an outlay of ₹79,000 crore, an increase of...

Events2 days ago

Art competition at Spectrum Metro 

Noida: Spectrum Metro, in collaboration with Motherhood Women’s and Children’s Hospital, organised a drawing and painting competition on January 26,...

News2 days ago

Housing prices start moving up post Covid, buoyant real estate along with construction activities create jobs, says Economic Survey

New Delhi: The Economic Survey tabled in the Parliament on Tuesday, said that housing prices have started firming up after...

News2 days ago

Andhra Pradesh Kicks-Off Global Investors’ Summit 2023 with Diplomatic Meet: Over 40 Nations Participate, Among Business Delegations & Captains of the Industry

New Delhi, January 31, 2023: The Curtain Raiser to the Andhra Pradesh Global Investors’ Summit 2023, started on Tuesday with...

News2 days ago

Pacific D21 Mall, Dwarka, hosts Tekken India’s Delhi Iron Fist Tournament 2023

New Delhi: Pacific D21 Mall, Dwarka, hosted gaming tournament, Tekken India’s Delhi IronFist 2, on January 28-29, 2023. The event...

Trending