The Confederation of Real Estate Developers’ Association of India (CREDAI), NCR, has demanded that various state development authorities be brought under the ambit of the Real Estate Regulatory Authority (RERA) and be treated as “promoters” for their land allotment schemes, so that their accountability can be fixed.
On May 5, CREDAI, NCR, appealed to the Uttar Pradesh Real Estate Regulatory Authority (UPRERA) to register and regulate the various state development authorities, such as the Noida Authority, the Greater Noida Authority, etc, under the Real Estate (Regulation and Development) Act, 2016.
The developers’ body said that once the registration of allotment schemes of state development authorities is made mandatory they will have to adhere to the RERA’s timelines, which will result in buyers getting their homes on time.
Gaurav Gupta, Secretary, CREDAI-NCR, said the move was prompted by several instances where land was allotted to the developer but possession could not be given because of encroachment or other issues, causing a delay in the completion of the project.
He said that whenever a project gets delayed either due to faulty land acquisition by the Authority or encroachment of land, the developer is held responsible and homebuyers suffer, while no accountability is fixed on the state development authorities.