Real estate consumer forum approaches PM on unfinished projects
A leading real estate consumer forum has written to Prime Minister Narendra Modi, pointing out that unfinished projects in West Bengal as well as Telangana, Haryana, Uttar Pradesh, Andhra Pradesh, Karnataka, Tamil Nadu, Punjab, Maharashtra, Madhya Pradesh and Chhattisgarh had been kept outside the purview of RERA, and hence, ineligible to seek funding from the Rs 25,000 crore corpus that had been created to help complete projects that are stalled. “West Bengal has chosen not to implement RERA and enacted its own law West Bengal Housig Industry Regulation Act, 2107 (WBHIRA). It has already been challenged in court. Since RERA registration is a precondition to availing of the stress fund, affected home buyers in Kolkata will not get any relief. Why should they suffer?” wondered Forum for People's Collective Efforts (FPCE) president Abhay Upadhyay. Real estate services firm Anarock says, there are around 13,000 units in Kolkata worth Rs 7,300 crore that were launched and currently delayed.
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