Punjab Govt may extend mega housing projects by another year to facilitate completion

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mega lodging task extension. Punjab government In 2023, the hold was notified connected January 6 for a twelvemonth till December 2023 considering a slowdown successful the existent property sector, and different 1 successful 2024. (Representational Photo)

Two years aft the Punjab authorities gave 2 extensions of 1 twelvemonth each to 19 mega lodging projects, it whitethorn springiness builders different accidental to implicit them.

The connection to springiness the extension, by making an objection to Section 5(5) nether Section 44 of the Punjab Apartment and Property Registration Act, would beryllium enactment up during the Cabinet gathering successful Chandigarh connected February 10.

In 2023, the hold was notified connected January 6 for a twelvemonth till December 2023 considering a slowdown successful the existent property sector, and different 1 successful 2024. However, astir of these projects remained incomplete.

Sources said respective companies had sought different extension.

As per rules, mega lodging projects person to instrumentality a completion certificate from lodging authorities aft submitting requisite documents. The task is past handed implicit to the Residents Welfare Associations (RWAs) for attraction and upkeep. As astir of these projects await completion, residents of respective projects are making a beeline to SDM offices to instrumentality power of RWAs. Several cases are pending arsenic well.

Sources said astir of the mega projects were initiated successful Punjab during then-chief curate Amarinder Singh’s tenure from 2002 to 2007, and besides during the SAD-BJP authorities from 2007 to 2012. These projects were fixed respective exemptions, and a deadline to implicit their projects wrong the stipulated time. However, astir await completion.

As per the rules, the authorities could cancel the licence of specified companies, but it did not instrumentality immoderate enactment considering a slowdown.

Builders person often cited a slowdown successful the existent property sector, and immoderate person adjacent said they person not been capable to get onshore from farmers. Last time, Emaar, TDI, Omaxe, Ireo Waterfront, Ansal Infra, Puma Realtors, JLPL, Ritesh Properties and others, were among those who had been granted an extension.

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