By Accommodation Times News Services
Union Urban Development Minister M Venkaiah Naidu, cautioned builders to adhere to the timed schedule. He said that action will be taken against those erring developers who fail to give possession of homes to the buyers within deadline.
Speaking on the Amrapali Group matter, he said, “Amrapali Group will have to fulfil all the promises made to consumers. They will have to adhere to the schedule. What has been promised has to be fulfilled, because of such examples only, the Real Estate Bill was resuscitated,” Naidu told
Referring the Real Estate Bill passed by the Parliament recently, Naidu urged the builders to adhere to the timed schedule.
“I appeal to all the builders to adhere to the timed schedule. The Real Estate Bill is passed by both houses of the Parliament. Now we’re discussing about framing of rules. An act will come into force soon. Action will be taken against those responsible,” he added.
The Amrapali Group is one of India’s leading real estate companies. Over 4,000 buyers of the group’s Golf Homes project are the worst sufferers after the real estate giant delayed the possession by about 15 months and allegedly stalling the construction work.