GURUGRAM: Haryana Real Estate Regulatory Authority (H-Rera) on Friday issued a notice to Orris Infrastructure and The 3C Company, the two developers of Greenopolis project, for failing to complete the first phase of the Sector 89 housing project by July 31, asking why a penalty of Rs 111 crores should not be imposed on them.
Despite several attempts, the two developers could not be contacted.
In January this year, H-Rera ordered the developers to complete the project in three phases — 600 flats in the first phase by July 31, and the second and third phases by March 31, 2020, and December 31, 2020, respectively. This was after buyers in the project had approached the regulatory authority, citing delay in construction of flats.
H-Rera has also made it clear to the developers that the failure to complete the first phase amounts to contempt of its order, an official said.
He also added that apart from asking why 10% of the project cost would not be imposed as penalty, the authority has sought details of all the properties belonging to the two developers of the project. The duo has 15 days to reply to the notice, failing which legal action will be initiated against them.
Orris, along with 3C, had applied for a licence for the project in Sector 89 in 2011, and started selling units in 2012. 3C was to construct the entire project with 1,862 units in 29 towers spread across 47 acres. Of these, 65% flats were owned and sold by 3C, while the remaining 35% were offered by Orris.
The construction started in 2014, promising possession in 2015. But, the work stopped after only 45% of the project was completed in 2014. By that time, around 1,800 flats had been sold, and buyers had already paid over 80% of price to the builders.
To find a solution for aggrieved buyers and with a focus on the completion of Greenopolis project, H-Rera, in July last year, ordered a stay on creating any third-party rights on the balance land and floor space index of 82,258 sq mtr available on 10 acres of prime land.
Source: ET Realty