News: Haryana RERA orders OSB Expressway Towers builder to complete project in six months-26-08-2024
The H-Rera conducted a meeting on the stalled OSB Expressway Towers project in Sector 109 with homebuyers on Friday and issued a final warning, stating if the project was not completed within six months, the regulator would invoke Section 8 of the Rera Act. This would transfer control to the buyers' association and potentially involve a third-party builder.
The project, faced significant delays, and despite repeated warnings, the builder failed to deliver possession of the flats. In response to Rera chairperson Arun Kumar's warning, the builder assured completion of the project within time.
However, he faces challenges arising out of licence suspension of three of his other projects due to default in payment and non-compliance with DTCP orders. His failure to meet this deadline could result in severe actions and loss of project.
The warning, which was given in 24th meeting since the issue was first brought to Rera's attention in Feb 2023, was considered a last resort to protect interests of buyers, who have been waiting for their homes for over seven years.
