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TN-RERA directs Green Avenue Homes & Gardens to complete project

BY Realty Plus

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In a significant order that is likely to have a bearing on joint venture realty projects, Tamil Nadu Real Estate Regulatory Authority (TNRERA) has directed a developer to pay rental dues and complete the housing project as per the agreed terms. The case relates to redevelopment of a property on Fifth Avenue in Anna Nagar, where the developer demolished six apartment units after entering into a joint venture agreement. While the project remained a non-starter, owners of the apartments were not paid the rentals for more than five years as per the conditions. The final order dated September 19 said three among six owners called Sarojam Gopinathan and Col. Sanath Gopinath, V S Srikumar and R Chitra had complained to TNRERA that re-development envisaged construction of eight flats, of which six would be delivered to the present six flat owners having undivided share of land and the rest would be the share of the developer. Out of the six existing apartments, the developer, Green Avenue Homes and Gardens, was possessing one flat. Following the joint development agreement, the apartments were demolished in 2012. While the housing projects were to be completed by December 2014, the order said, handing over of flats should have been done by January 2015.

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