Real estate industry experts voice concern over lack of registration of realty projects in Delhi

economictimes.indiatimes.com:

Real estate industry experts have voiced apprehensions regarding the lack of registration of realty projects in the national capital and agents' failure to display RERA (Real Estate Regulatory Authority) details while selling high-value properties. During a CII Delhi session with RERA-Delhi, developers and property consultants said that they were concerned that real estate agents are promoting properties in South and Lutyens Delhi without disclosing the essential RERA details.

Anand Kumar, Chairman of Delhi RERA, acknowledged the raised concern and assured that the authority would take appropriate actions against builders and agents who fail to register with them. “Some developers are currently announcing sale of farmhouses built in 1 acre on the proposed policy under MPD 2041, which is completely illegal,” said Kumar.

Delhi RERA has announced that it will provide extensions to developers as construction work on projects was hindered by continuous rainfall and flooding in the city. Harsh Vardhan Bansal, CII Delhi Sub-Committee Chairman on Infrastructure, Real Estate & Urban Development and Co-Founder of Unity Group, emphasized the need to address challenges faced by the sector, particularly related to RERA regulations concerning common areas, fund utilisation, extension of project duration under force majeure, and fire safety clearances.

“The ban on construction in anticipation of poor air quality under the revised GRAP guidelines needs to be reviewed. In construction there are a number of non-polluting activities like plumbing, electrification, furniture and fittings and RERA’s support is needed to secure its permission,” Bansal said.