+
Delhi RERA Urges Builders to Act Against Defaulting Buyers
Real Estate

Delhi RERA Urges Builders to Act Against Defaulting Buyers

The Delhi Real Estate Regulatory Authority (RERA) Chairman is urging builders to file complaints against customers who default on payments. This directive aims to maintain financial integrity in the real estate sector and ensure transparency and accountability in transactions.

Builders must comply with strict timelines and obligations, but buyers also have a responsibility to make timely payments. Failure to honour financial commitments disrupts project progress and strains developers financially. The Chairman's call for action highlights the importance of balanced accountability.

Timely payment compliance is crucial for sustained growth and stability in real estate. Delays or defaults in payments impede construction progress, increase costs, and tarnish the industry's reputation. Addressing non-payment instances promotes a culture of financial responsibility.

The proactive stance aligns with RERA's objective of fostering transparent, fair, and accountable real estate transactions. Upholding financial commitments is essential for seamless project execution and industry credibility. Taking measures against payment defaults contributes to a robust real estate sector in Delhi.

The Delhi Real Estate Regulatory Authority (RERA) Chairman is urging builders to file complaints against customers who default on payments. This directive aims to maintain financial integrity in the real estate sector and ensure transparency and accountability in transactions. Builders must comply with strict timelines and obligations, but buyers also have a responsibility to make timely payments. Failure to honour financial commitments disrupts project progress and strains developers financially. The Chairman's call for action highlights the importance of balanced accountability. Timely payment compliance is crucial for sustained growth and stability in real estate. Delays or defaults in payments impede construction progress, increase costs, and tarnish the industry's reputation. Addressing non-payment instances promotes a culture of financial responsibility. The proactive stance aligns with RERA's objective of fostering transparent, fair, and accountable real estate transactions. Upholding financial commitments is essential for seamless project execution and industry credibility. Taking measures against payment defaults contributes to a robust real estate sector in Delhi.

Next Story
Real Estate

Notandas Realty Invests Rs 4.5 billion in Two Juhu Projects

Notandas Realty has launched two luxury residential projects—Notan Tides and Notan DC—in Juhu, Mumbai, with a combined investment of Rs 4.5 billion.  Notan Tides, a larger redevelopment project designed by ARA Designs, will receive Rs 3 billion. The smaller, high-end Notan DC, led by SEZA, will see Rs 1.5 billion in investment. Both projects have secured regulatory approvals and are expected to be completed within 30 months. This expansion brings Notandas Realty’s total Juhu portfolio to four developments, reinforcing its commitment to upscale residential offerings in one of Mu..

Next Story
Equipment

SILA Partners Nilkamal to Launch MHE Rental Services

SILA has launched its Material Handling Equipment (MHE) rental division in partnership with Nilkamal. The offering includes electric forklifts, reach trucks, and other equipment on wet/dry lease or AMC models, targeting warehousing and manufacturing firms. Backed by a 30,000-strong workforce and tech-led operations across 125+ cities, SILA aims to deliver energy-efficient, fast-charging and low-maintenance solutions. Nilkamal brings extensive manufacturing and systems integration capabilities to the alliance. The initiative supports sustainable logistics and offers a full-service ecosystem—f..

Next Story
Infrastructure Transport

Hubballi Airport Upgrade to Host Bigger Aircraft Soon

Hubballi airport will soon be capable of accommodating larger aircraft such as the Airbus A320, as apron expansion and reconfiguration works progress. Once completed, the upgraded apron will allow for 10 larger aircraft and four smaller aircraft to be parked simultaneously.This project forms part of a broader airport upgradation initiative, which includes construction of a new eco-friendly terminal building, additional apron bays, four aerobridges, and supporting infrastructure. The total development cost is Rs 2.7 billion.The Airports Authority of India (AAI) has floated a tender worth Rs 350..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?