The UPRERA allowed the homebuyer’s association of a project to take charge of the completion of four stuck projects. Discussions are still going on with the original builder Jaypee Associates to come on board as contractor.
RERA Authorities being regulators are trying to help the Developers in one form or the other. Maharashtra & Karnataka-RERA have already given a three-month extension to registered projects.
COVID19 Emergency-The Indian Economy is already facing a slowdown in growth but this situation to get worse if the countermeasure is not implemented sooner.
Builders demanding cash are often a sign of unscrupulous dealings and should not invest their hard earnings in such dicey investments.
To revive the ship the major equipment which is required will be RERA as it will soon accelerate its healing on the damage caused to the real estate sector.