The Uttar Pradesh Real Estate Regulatory Authority (RERA) has cancelled the registration of three incomplete group housing projects in Ghaziabad with immediate effect and frozen their bank accounts to prevent transactions. The registrations of Antriksh Sanskriti Phase-2, Antriksh Sanskriti Phase-3 and Raksha Vigyaan Sanskriti Phase-2 have been cancelled and proceedings initiated under RERA’s Section 8, the regulatory authority said on Wednesday. Section 8 of the UP RERA Act empowers the regulatory authority to hand over completion tasks of a stalled housing project to its buyers’ association.
“Multiple complaints were lodged by the allottees of the two projects of M/s Antriksh Realtek Pvt. Ltd and a project of Raksha Vigyan Karmacharis Sahkaari Samiti Ltd. with the Authority under Section 31 of the RERA Act, alleging the violation of the agreement/contract with the promoter and delay in construction,” the UP RERA said.
As per the promoters, the construction and development work of the projects Antriksh Sanskriti Phase 2, Phase 3 and Raksha Vigyaan Sanskriti Phase-2, began in 2015 with their completion dates being July 2022, July 2022 and June 2023, respectively, it noted.
“As per the on-site verification report of projects received by UP RERA, presently, the construction and development work has been achieved up to 40 per cent in Antriksha Sanskriti Phase-2 and up to 30 per cent in Antriksha Sanskriti Phase-3. Surprisingly, the construction and development work could not commence in Raksha Vigyaan Sanskriti Phase-2,” the UP RERA said.
“The inspection report also states that all kinds of construction work on the project site are closed for many years, thus the chances of completion of the projects are absolutely uncertain,” it said.
The order has also restricted the projects’ promoters from accessing the UP RERA website in relation to these projects and they are now specified in the list of “defaulters” with photos and names, according to the statement.
“This information has been conveyed to RERA offices of other States and Union Territories. It has been decided by the authority to freeze the bank accounts of the projects to prevent any kind of transactions related to the project,” the statement added.
A Project Advisory and Monitoring Committee (PAMC) has been constituted under the chairmanship of UP RERA Member Kalpana Mishra for a “well-considered proposal” regarding further action to complete the remaining development works of the three projects under Section 8 of RERA Act, it stated.
The PAMC also includes the vice-chairman of the Ghaziabad Development Authority along with a technical advisor, conciliation consultant, auditor of UP RERA as well as the financial institutions and association of allottees of the project, according to the statement.
Expert assistance will be provided to this committee from the Project Management Division of UP RERA to ensure completion of the project, it added.