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
The residents’ welfare association of Klassik Landmark apartment, had registered itself under the Karnataka Cooperative Societies Act, and the stay of that registration had left them in limbo. The court has now given the Deputy Registrar of Cooperative Societies two months to consider the appeal and dispose of the case.
The CEO also directed officials that information regarding the dues against each developer should be published in newspapers and that boards should be installed at the project site mentioning their liability towards the authority.
The government may either have to rationalise interest rates on builder dues or give them a moratorium. This would mean having to forgo some portion of the accumulated builder dues.
Bhoosreddy, a retired IAS officer of the 1989 batch, was the Investment Commissioner of the UP government, and has served in the Uttar Pradesh Housing Board as well.