Delayed Projects

The stalled projects have left thousands of homebuyers in limbo. Officials said that while the Noida Authority has managed to execute registries for 3,724 apartments, an additional 5,758 units remain blocked because developers are yet to clear their outstanding dues.

Stuck housing projects: UP Cabinet approves recommendations of Amitabh Kant committee

The recommendations comprise a slew of relaxations for developers, including a zero-period to waive interest and penalties imposed for financial default, officials aware of the matter said

Defaulting builders should not get three-year blanket extension to complete stalled projects: Homebuyers' body

Builders whose projects are stalled or delayed for more than two years should be blacklisted and barred from launching new projects in future, FPCE’s president said in a letter to housing and urban affairs minister Hardeep Puri

Stakeholders will have to take haircuts to make projects financially viable: Expert panel

Recommends financial institutions be encouraged to fund stalled projects via subsidised interest rates.

De-link registration of housing projects from recovery of dues from real estate developers: Expert panel

The Report of the Expert Committee on Rehabilitation of Legacy Stalled Real Estate Projects said the resolution of these stressed units will help the middle and lower middle class get houses for which they have paid a substantial amount, and also give a big boost to economic activity and growth.

Will NCLT’s approval of Ace Infracity resolution plan for 3C Homes set precedence?

Legal experts say that are of the view that the order will pave the way for other projects that are stuck because of disputes with governing bodies

MahaRERA extends deadline of 12 real estate projects; wait for homebuyers to get longer

The MahaRERA has said that rather than cancel the project registrations, it has given the extensions in the interest of homebuyers with the understanding that developers will expedite the construction.

Banks, real estate developers urge Noida, Greater Noida authorities to focus on completion of stuck projects

Issues that were discussed at the meeting included the logjam over unpaid dues to the authorities, permission not be granted by the respective authority to mortgage properties and delays in issuing occupation certificates, among others.

Mumbai developers seek relaxation on govt charges for over 100 delayed projects approved in 2021

Developers say they had paid the premiums upfront during the 50 percent waiver on charges announced by the state government in 2021; projects were delayed due to various reasons that were not in the hands of the developers.

Road transport, highways sector has maximum number of delayed projects: Govt report

In the road transport and highways sector, 402 out of 749 projects are delayed. For railways, out of 173 projects, 115 are delayed, while in the petroleum sector, 86 out of 145 projects are running behind schedule, as per the latest flash report on infrastructure projects for March 2023.

Buying a home to get easier with model builder-buyer agreement

The agreement will aim to protect homebuyers from potential abuses, reduce disputes, and provide effective grievance redressal mechanism to consumers.

Road transport, highways sector has maximum number of delayed projects: Govt report

The report showed that the Muneerabad-Mahaboobnagar rail project is the most delayed. It is delayed by 276 months.

Amitabh Kant-led committee to look at ways to complete stalled real estate projects

The 14-member committee made up of Central and state representatives shall submit a report within six months from the date of its first meeting. 

Road transport and highways sector has maximum number of delayed projects: Govt report

In the road transport and highways sector, 460 out of 749 projects are delayed.

Road transport and highways sector has maximum number of delayed projects at 248: Govt report

In the road transport and highways sector, 248 projects are delayed with respect to their original schedule out of the 831 monitored, as per the latest flash report on infrastructure projects for August 2022.

Can homebuyers’ associations complete a stuck project under RERA?

This project had a net negative cash flow of between Rs 18 crore and Rs 19 crore. In this case, the developer agreed to salvage the situation by agreeing to contribute the balance. Can the model work in big projects that are stuck?

Seventeen years after launch, buyers await possession of apartments in Mumbai's Mulund 

The project, being developed by the Runwal Group, ran into delays after a legal dispute on the status of the land on which it was being constructed

Ozone Urbana: 6 years on, this Bengaluru township is yet to touch the sky

Launched in 2014, the Pavilion apartment block in this township was scheduled to be completed by 2016. After the builder failed to complete the project, the buyers filed cases with KRERA. While cases continue piling up, buyers feel financially strangled and mentally stressed

Today Homes Ridge Residency: Litigations dragging case with homebuyers awaiting justice; all eyes on Supreme Court, NCLT

The approximately 13-acre project was to be completed by 2013-14 but almost a decade later, investors are stranded.

Despite the long wait, the insolvency process has made a difference to 1,400 buyers of SARE Homes in Gurgaon

After work on the project stopped in two phases in 2017 and in the entire project two years later, the buyers knocked on the doors of every legal forum – the National Consumer Disputes Redressal Commission of India (NCDRC), the Haryana RERA, and the NCLT.

Earth Infrastructure fraud: Buyers fume as Copia, Techone and Sapphire Court residential projects remain stuck

Although a resolution plan was cleared a year ago, there has been little movement. The three projects were launched between 2010 and 2012 but not a single unit has been delivered till date.

Homebuyers drive Delhi builder Ajnara India into insolvency proceedings

NCLT names resolution professional after buyers of Ajnara’s delayed Ambrosia project Noida decided to approach the bankruptcy court.

Idea Builders-Manju J Homes Red Apple Projects: A tale of deceit and an alleged builder-bank nexus

While the case is similar to others in Noida and Greater Noida, what differentiates it is the allegation by some buyers of collusion between the builder and bank officials, something highlighted by the Debt Recovery Tribunal as well.

There’s light at the end of the tunnel for over 4,000 buyers of the Lotus Panache project in Noida who have waited for their homes for almost a decade

The project spread over 30 acres was launched on May 11, 2010. Initially, there were 30 towers and later one more was added, becoming another point of contention between the buyers and the developer.

Tashee Capital Gateway: The Gurugram development with closed doors

When Tashee Capital Gateway was launched in 2010, civilians and military personnel alike bought homes in the project on which the developer abruptly stopped construction in 2016, without specifying a reason. Their story is a cautionary tale for homebuyers.