UP-RERA Appoints REPL to Monitor Greater Noida Stalled Projects Const

The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has appointed Delhi-based consultancy company, REPL (Rudrabhishek Enterprises Ltd.) as third party consultant to monitor physical and financial progress of three stuck projects in Greater Noida. These projects were stuck and construction was resumed after the intervention of UP RERA who brought developers and homebuyers together to complete the project. These include Casa Grande 2 of Earthcon Construction Pvt. Ltd; La Palacia of Newtech La Palacial Pvt Ltd; and Unibera Towers of Unibera Developers Pvt Ltd. Total number of units in these projects are 1925 and the estimated cost of completion will be approximately Rs 225.11 crore. “Many projects are feasible but were stuck due to lack of funding. In some cases, both promoter and buyers approached us for solution. We have restarted construction of such project by forming a monitoring committee,” said Rajive Kumar, Chairman of UP RERA. REPL will monitor the construction of remaining development work and report to authority as per overall project implementation plan. REPL will work with all the stakeholders, including the authority and flat owner associations. “REPL will review the tendering process, physical performance, and timelines. REPL will also review the fund utilization, and construction quality. Timely delivery of the assignment will bring relief for many people who were worried about their committed investments. We have already started mobilizing special teams on the project and expect to see the things rolling out on ground very soon,” said Satish Sehta (VP- Building Services, REPL).