NEW DELHI: Real estate builders have been know for missing the deadlines but what comes as a shocker is that they even lie to RERA about possession dates.
In Lucknow, Ansal API had launched a project in Pocket 7 of Sector C in 2006. The homebuyers were told that they will get possession in three years. But the investors and homebuyers have been waiting for the last 8 years and the possession has still not been given.
Now the builder has deferred possession by another 7 years. Ansal API has mentioned 2023 as the year of project completion while registering the project with RERA.
This is the sorry state of real estate sector in the Lucknow and many such builders have failed to meet deadlines.
The builders can’t continue their business without registering their projects with RERA and they have to compulsorily give compensation for delays in hand over. To avoid this, they lied to the RERA and mentioned wrong project completion dates