Noida (Uttar Pradesh): Amidst the chaos of COVID-19 the real estate sector suffered a major roadblock as all the construction work came to halt. This created a hustle between the builders as their projects came to standstill. NAREDCO- the builder’s organization has requested the real estate regulatory authority of Uttar Pradesh (UP RERA) to extend the deadline for finishing up the projects which are still under construction by 12 months in lieu of the COVID-19 pandemic. The projects on which the Chairman of NAREDCO, RK Arora has pleaded the extension were supposed to be delivered in 2020. But, due to the COVID-19 pandemic outbreak
in March, the construction was disrupted. He mentioned that these projects have meddled due to lack of labor force, social distancing rules, and the obstruction in the supply of the raw materials. The major roadblock is the lack of materials and the human force. In a statement to Indian Print, RK Arora said that “This decision will affect about one lakh residential units in the National Capital Region of Uttar Pradesh and three to four lakh units in the whole of Uttar Pradesh.”
The procedure of explaining the situation to UP RERA was followed by writing a letter to Abra Ahmed who is the RERA secretary of Uttar Pradesh. In the letter sent to the governing body, the NAREDCO, Uttar Pradesh chairman stated all the challenges that are coming in their way to deliver their projects. NAREDCO is a self-governing body that falls under the Union Ministry of
Urban Affairs. However, the UP RERA’s secretary diplomatically told the media ”There is no provision in the law about extending this type of situation.” The speculations are that RERA will operate legally and follow a step by step procedure before accepting the plea. They will be considering every possibility that might provide relief to the developers.