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delayed projects

RERA – Still Rare on the Ground

Anuj Puri, Chairman – ANAROCK Property   Consultants Maharashtra has the most RERA-registered projects with 17,353, UP with 3,950 projects Serious developer-favouring dilutions impacting demand in many states More than a year after RERA was formally implemented, we are beginning to see some real impact on the ground. However, the results are still far from scintillating. Progress so far Out of all the states and Union Territories in India, Maharashtra takes the first place when it comes to proactive RERA adoption, implementation and integration, followed by Uttar Pradesh, Gujarat, Madhya Pradesh and Karnataka. As per the latest registration updates, more than 32,306 projects and 23,111 real estate agents have been registered under RERA across states. Maharashtra has the highest share...

The Delayed Projects – Do we really need them now

The status of Indian infrastructure projects is not very pleasing. The condition can easily be assessed with the fact that more than 300 projects are delayed by at least 5-7 years. The issue is that these delays just kill the entire purpose of those projects and make them virtually useless in the current scenario. Not to mention the revised funds which get wasted on them. The question is ‘Do we really need them now’ Every project is launched with some objective. Out of all, one of the prime objectives is better and smooth connectivity and removing decongestion to cut pollution caused due to long traffic jams. With delays exceeding more than 5 years, the entire surrounding of the project changes. The traffic load changes, the population load changes, the supporting infrastructur...

Infrastructure Development- Who is responsible?

We often book flats and after all the struggles, eventually, get possession as well. However, when we go shift to our new abode with all the excitements, enthusiasm and expectations of starting new innings of our lives, we suddenly encounter a bundle of problems which are beyond imaginations. Yes, this is the common story of every other person who dreamt of living in metros and booked the flats. Ironically, they pay all the charges related to each and every kind of development long before they actually shift to their houses. Payments like External Development Charges (EDC), Infrastructure Development Charges (IDC), maintenance charges etc. are all collected before the handover of the flats and irrespective of whether the development has actually happened on the ground or not!  Apparently,...

WakeUpIndia First podcast: The Issue of Delayed Infrastructure Projects

There are so many projects which get delayed in India. But no one bothers to ask any question. Our national parties do some blame game together, but results are a big ZERO. In some cases, the projects get its due, but the majority of the projects either runs on a long delay or are halfway through. Here are some of the facts for our readers to assess the overall status of various projects running under various initiatives by our govt. or town planner or authorities:  As many as 302 infrastructure projects worth Rs 150 crore and above are delayed with a total cost over-run of Rs 1.45 lakh crore as on November 1, 2017. This is as per a report by the Ministry of State for Statistics and Programme Implementation As per the minister Shri Vijay Goel, a standing committee in each ministry has bee...

Breaking Myths ! Is your project delayed – Don’t curse your developer!

Whenever there is a delay at your real estate project, the first thing that you do is to curse your developer for the same. This is a very common and obvious reaction. But do you really know the reason behind that delay! So, we are here again with some myth-breaking information. And today we through some light on a general perception that every developer is a cheat or a defaulter. Well, as per a research report by Assocham which came in the month of May last year, around 85% of the total projects which have crossed the launch phase, are delayed. And 95% of all the delayed projects are residential. Also, these projects are delayed by an average of 40 months. So, the general perception says that the developers are delaying the projects because they are the cheats. No! it’s not the case...

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