Homebuyers urge housing minister to blacklist builders whose projects are stalled for over 2 years
The Forum for People’s Collective Efforts (FPCE) has approached the minister with a suggestion that the concessions and exemptions recommended by the Amitabh Kant Committee to realty developers or their stuck projects be limited to only legacy stalled projects to prevent misuse. It has also sought compensation for homebuyers of projects that would be granted such an extension.
Homebuyers have also urged that extension for a project, if granted, should be on a case-to-case basis and based on the timeline required to complete the projects in normal circumstances and no blanket extension of three years should be given.
FPCE has also recommended to the ministry of housing & urban affairs a RERA monitoring committee (RMC) be established, primarily composed of homebuyers, distinguished independent individuals and reputable non-profit organisations.
“The Amitabh Kant Committee report has highlighted the lack of intent on authorities’ part to implement RERA in letter and spirit.
Therefore, it is necessary to constitute an RMC to oversee its functioning and intent to protect the interest of homebuyers,” Abhay Upadhyay, president of FPCE, told ET. “We also need to ensure that we do not see a repeat of such a large number of delayed projects in future.”
He also highlighted that the RMC committee should exclude any involvement of builders or their organisations, and that the RMC could present its findings to the central advisory council (CAC) during its meetings to ensure accountability.
The ministry had set up a committee in March to examine the issues related to legacy stalled projects under the chairmanship of G20 Sherpa Amitabh Kant.
The committee’s report has cited the Indian Banks’ Association (IBA) estimation that 412,000
