+
Audits in highrises held up as 'builders to deposit funds'
Real Estate

Audits in highrises held up as 'builders to deposit funds'

Delays in the structural audits of high-rise residential societies have been attributed to developers' failure to provide the necessary funds for plan execution. In addition to the financial shortfall, developers have not shared crucial building plans required to conduct these structural assessments. To address these issues, a recent meeting was convened by Additional Deputy Commissioner Hitesh Meena, bringing together the District Town Planner (DTP), structural audit agencies, and developer representatives to assess the progress of the audit process.

During the meeting, Meena directed the District Town Planner to issue a final warning to developers, urging them to cooperate promptly. He made it clear that if they fail to do so, appropriate actions will be taken against them. The discussion also encompassed the ongoing valuation of interior work in towers G and H, as well as the status of refunds for affected flat owners in Chintels Paradiso, located in Sector 109.

Manish Yadav, District Town Planner (Enforcement), informed the Additional Deputy Commissioner that a majority of developers have yet to deposit the necessary funds required for the testing phase of structural audits for 15 societies in the second stage of the first phase.

In summary, delays in structural audits due to inadequate funds and withheld building plans have prompted authorities to issue a final warning to developers, emphasizing the need for cooperation. The meeting also addressed related issues and established a course of action for future proceedings.

Delays in the structural audits of high-rise residential societies have been attributed to developers' failure to provide the necessary funds for plan execution. In addition to the financial shortfall, developers have not shared crucial building plans required to conduct these structural assessments. To address these issues, a recent meeting was convened by Additional Deputy Commissioner Hitesh Meena, bringing together the District Town Planner (DTP), structural audit agencies, and developer representatives to assess the progress of the audit process. During the meeting, Meena directed the District Town Planner to issue a final warning to developers, urging them to cooperate promptly. He made it clear that if they fail to do so, appropriate actions will be taken against them. The discussion also encompassed the ongoing valuation of interior work in towers G and H, as well as the status of refunds for affected flat owners in Chintels Paradiso, located in Sector 109. Manish Yadav, District Town Planner (Enforcement), informed the Additional Deputy Commissioner that a majority of developers have yet to deposit the necessary funds required for the testing phase of structural audits for 15 societies in the second stage of the first phase. In summary, delays in structural audits due to inadequate funds and withheld building plans have prompted authorities to issue a final warning to developers, emphasizing the need for cooperation. The meeting also addressed related issues and established a course of action for future proceedings.

Next Story
Real Estate

Reliance MET City Launches Metropolis Project In Haryana

Reliance MET City (RMC) has launched Metropolis, an integrated mixed-use project in Haryana that is expected to redefine the regional urban landscape. RMC said the development will combine residential, commercial and leisure components to meet rising demand for organised urban spaces. The project has been positioned to benefit from existing and planned transport links and municipal infrastructure, and aligns with regional plans for sustainable urbanisation. Company representatives framed the initiative as part of a broader expansion strategy in northern India. The Metropolis project will inco..

Next Story
Infrastructure Energy

Radiance Renewables Raises 100 Million Dollars for Expansion

Eversource-backed Radiance Renewables has secured 100 million dollars (100 mn dollars) in funding from Impact Fund Denmark and FMO to support its expansion. The investment will bolster the company's capital base and enable acceleration of project development and deployment. Radiance Renewables is positioning itself to scale its renewable energy portfolio and strengthen operational capabilities. The funding round reflects growing investor appetite for climate-focused infrastructure. Impact Fund Denmark and FMO are established impact investors that channel capital into sustainable energy projec..

Next Story
Infrastructure Energy

Temasek-led Consortium in Talks for Rs 15 bn Pre-IPO Round

A Temasek-led consortium is in advanced talks to invest Rs 15 billion (Rs 15 bn) in Clean Max Enviro Energy in a pre-initial public offering funding round, according to people familiar with the matter. The prospective financing is intended to provide capital for operational expansion and to strengthen the company's balance sheet ahead of a planned public listing. The discussions reflect continued investor appetite for renewable energy platforms in the region. Clean Max Enviro Energy is a renewable energy developer that provides sustainable power solutions to commercial and industrial customer..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Open In App