In a first that we have seen, the Greater Mohali Area Development Authority (GMADA), issued a notice to the Pearls Group to develop the Pearls City project or face license cancellation. According to the article in Economic Times, the group was issued a license to build Pearl City from Jan 10, 2014 to Jan 9, 2017 – however, the construction is yet to begin on that site.
In an unprecedented move, the GMADA took a decision to issue a notice to remind them about this deadline and their obligation. We, at PropertyChek, applaud GMADA for the reminder.
I will also add this is a bit of unique situation where a builder has not started construction even with a construction license. More common are cases of delays and fraud where a builder is unable to get the appropriate construction licenses. We offer an easy on-demand service for buyers to check approvals and protect themselves when required construction approvals are missing. Check our sample reports to find out content of our reports
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