Haryana RERA allows buyers to take over Sare Homes’ Gurugram project
GURUGRAM: The Haryana Real Estate Regulatory Authority (HRera) has passed an interim order. It allows the homebuyers under the Association of Allottees (AOA) to take over the Sare Homes project in Sector 92. The order is passed based on the mitigation plan submitted by the project’s monitoring consultant.
According to the orders, AOA will approve the plan and directly monitor the construction and completion of the project. It also says that all future receivables and funding will be first utilized to finish the project. Besides that, the secured creditors will have the right to recover their money only after the project’s completion.
According to the order, passed by HRera chairman KK Khandelwal the RWA to conduct a meeting of all its members to discuss and arrive at a consensus on the mitigation plan submitted by the monitoring consultant, and thereafter submit its resolution plan and furnish an undertaking that it is to take over the flats on an “as is where is” basis. A committee will be formed to conduct the meetings. The members will include the RWA president, monitoring consultant, one person each from the AOA, and the authority.
Besides that, the salaries of employees and guards, professional fees to the monitoring consultant and the financial auditor firm will be made in line with rules.
The lender, Alchemist counsel agreed to the directive on payments. However, they had strong reservations towards payments of fees of lawyers engaged by the promoter. The regulator also instructed that the payment of a professional fee to the lawyers engaged by the promoter can be slowed down while the remaining payments are released by the bank. In case of non-compliance with the order, the regulator can start penal proceedings under Section 63 of the Real Estate (Regulation and Development), Act 2016.
