TNRERA elects RERA panel to execute sale deeds of 700 buyers
Real Estate

TNRERA elects RERA panel to execute sale deeds of 700 buyers

The Tamil Nadu Real Estate Regulatory Authority (TNRERA) has elected a committee of RERA officials to implement sale deeds for undivided shares or plots in favour of the association of buyers of a delayed housing plan in Coimbatore.

The RERA authority will write to the country planning department for approval, then the association will apply for registration with the RERA, and the homebuyers' body will attain the project. While this order draws huge relief to 700 house buyers, it has come at a time when different RERA officials are not enforcing the execution orders against builders despite their repeated failures to comply with orders.

In this case, Sahara Housing Investors Association (SHIA), a home buyers’ body created by aggrieved buyers who had pumped in in the Sahara City Homes, Coimbatore project from 2005 onwards had listed a complaint with the TNRERA against the Sahara Prime City Limited in March 2019 about the stoppage of the project.

The builder had agreed to give ownership of homes from 2011 onwards. The SHIA had additionally complained about how the builder had not recorded the project with RERA, which was a legal requirement. After multiple hearings the RERA passed an order in favour of the buyers in January 2020.

The builder had admitted they were in terrible financial condition and inability to resume the left construction in the project. The TNRERA had ordered to implement the sale deed, for the undivided share or plot in respect of allottees and conveying the common spaces in favour of the association within three months and additionally inflicted a Rs 1 crore penalty on the builder for non-registration of the project under the TNRERA.

It had ordered the Director of Town and Country Planning (DTCP) to nod renewal or revised planning permission to the association since the earlier approval lapsed in September 2014. But as the builder failed to comply with the order within the specified time, the homebuyers’ association listed an Execution Petition (EP) with TNRERA in December 2020. The RERA announced the order in favour of the homebuyers on November 18.

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Also read: TNRERA gets 483 real estate agent registrations

The Tamil Nadu Real Estate Regulatory Authority (TNRERA) has elected a committee of RERA officials to implement sale deeds for undivided shares or plots in favour of the association of buyers of a delayed housing plan in Coimbatore. The RERA authority will write to the country planning department for approval, then the association will apply for registration with the RERA, and the homebuyers' body will attain the project. While this order draws huge relief to 700 house buyers, it has come at a time when different RERA officials are not enforcing the execution orders against builders despite their repeated failures to comply with orders. In this case, Sahara Housing Investors Association (SHIA), a home buyers’ body created by aggrieved buyers who had pumped in in the Sahara City Homes, Coimbatore project from 2005 onwards had listed a complaint with the TNRERA against the Sahara Prime City Limited in March 2019 about the stoppage of the project. The builder had agreed to give ownership of homes from 2011 onwards. The SHIA had additionally complained about how the builder had not recorded the project with RERA, which was a legal requirement. After multiple hearings the RERA passed an order in favour of the buyers in January 2020. The builder had admitted they were in terrible financial condition and inability to resume the left construction in the project. The TNRERA had ordered to implement the sale deed, for the undivided share or plot in respect of allottees and conveying the common spaces in favour of the association within three months and additionally inflicted a Rs 1 crore penalty on the builder for non-registration of the project under the TNRERA. It had ordered the Director of Town and Country Planning (DTCP) to nod renewal or revised planning permission to the association since the earlier approval lapsed in September 2014. But as the builder failed to comply with the order within the specified time, the homebuyers’ association listed an Execution Petition (EP) with TNRERA in December 2020. The RERA announced the order in favour of the homebuyers on November 18. Image Source Also read: TNRERA gets 483 real estate agent registrations

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