Page 18 - BANKING FINANCE November 2018

U N

SING

De an or ou in in R R e in ro e or u er o o le e own
n ia o re ain ro u ou in roje
ttar radesh Real state Regulator uthorit R R has or all initiated a
eki Mi r C D C
rocess here u ers can take o er and co lete
ccording to Mr Mistr the go ern
their housing rojects he o e co es a ter u
ent has een
ers o Shu hka na rou s roject in oida s Sec
er ocused on
tor a roached R R asking or the
the housing sec
roject to e handed o er to the as one o the
tor eo le ha e
artners Di akar Shar a is ehind ars and an
een encouraged
other artner i ush i ari has een a sconding
to u houses in
Shu hka na ech o es u ers ssociation su itted a ro osal to R R
the e ectation
that gi ing a oost to the housing s the roject nears co letion al inder u ar e er R R has asked
sector e ecti el ou ill gi e a the association to take the consent o er cent o the u ers so that the
oost to all the core sectors in the ro osal can e considered nce the gi e their consent R R ill a oint
a inancial consultant ho ill see i the ro osal is inanciall ia le he con
econo ce ent steel o er
sultant ill e asked to ake a ro osal hich ill e heard in the ne t hear
aint arious ancillar industries as
ing this ha ens then it could e a land ark decision in oida here a nu
sociated ith housing
er o rojects are al ost co lete ut u ers ha e not recei ed ossession
hen housing gets a oost di erent
long ith this R R has also issued an order to arth racia uildcon here
allied industries also get a oost and
the entire construction has not een done and u ers ha e also not aid the
lots o jo s are generated or con
struction orkers asons car en entire a ount according to the de and raised Since all ro oters o arth
ters lu ers and engineers he rou are ehind ars R R has asked reater oida uthorit to e lore
go ern ent has ro ided iscal en o tions o selling land to so e other art and reco er its dues as ell as re
und u ers one ith interest
e its on housing loans and a C SS or
a su sid sche e is also a aila le or R R ill ask oida uthorit or ad ice art ro ha ing to recei e one
ho e u ers nd last ut not the ro Shu hka na rou R R has also issued a reco er notice to the
least one o the ost i ortant ac co an So e rojects can get a head a as ar as ossession is concerned i
tors or the gro th is the act that the inancial ad isor inds it suita le in ter s o inancial ia ilit and gi e the
t o thirds o the o ulation in ndia a green signal o e er in oida land is leasehold and oida uthorit s con
is elo ears o age ndia has a sent is i erati e n se eral stuck rojects the ain issue is dues due to oida
oung o ulation co ared to the uthorit ithout this a ent it ill e di icult or u ers to takeo er their
rest o the orld roject and o er legal ossession to the u ers

18 | 2018 | NOVEMBER | B N N N N E