Real estate developer have requested the Uttar Pradesh Real Estate Regulatory Authority (UP RERA) to given another 12 month’s time for completion of projects as well as compliance of various orders passed by RERA due to the impact by the second wave of COVID19 cases.

The developers have also demanded that the recovery proceedings on account of delay in compliance of orders, be kept suspended for further 12 months and during this 12 months period no further refund order be passed.

In a webinar on Friday with the UP RERA chairman, developers raised their grievances and put up various demands to ensure smooth execution of real estate projects and give delivery of units to allottees.

“The developers also urged RERA to take up with state government to modify the Zero Period order and remove the condition of completing projects by December, 2021 to be eligible for the zero period benefit,” said R K Arora, President, NAREDCO-UP.

The developers’ body also took up the issues arising from wrong refund orders passed by RERA even though the possession of flat is ready, and demanded that such refund orders be revoked and complainants be advised to take possession.

In some cases recovery certificates have been issued in cases where customer had taken loan from banks, whose charge on such flat is still continuing.

“Financial hardship on account of banks not releasing home buyers funds in 70% RERA escrow accounts for construction purposes, was also raised by developers who requested RERA to issue strict instructions to defaulting banks,” said Arora.

Rakesh Yadav, Vice President, NAREDCO-UP and Chairman, Antriksh Group requested RERA to invoke Section 19 of RERA Act, against buyers who have defaulted in making payments due to developers, and make them also responsible in the same manner as the developers.