HRERA Takes Gurgaon’s Delayed Greenopolis Housing Project Under Its Wing

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    In what appears to be a sign of relief to more than 1800 Gurgaon homebuyers, the Haryana Real Estate Regulation Authority (HRERA) has taken the project Greenopolis under its wing. The project was supposed to have been completed in 2015 in Sector 89 by Orris Infrastructure and 3C Infrastructure Private Limited.

    “The pending construction of Greenopolis will now be completed under the supervision of H-RERA,” chairperson Dr. KK Khandelwal told TOI.

    Under the proceeding, HRERA has directed the developers to complete the project at the earliest, and that too under its supervision. An investigation reportedly has already been initiated, and its findings will be placed before the authority within 10 days.

    HRERA has also appointed a commissioner and a quantity surveyor to calculate the remaining cost of Greenopolis and to find out if any funds meant for the same had been diverted by the two developers. Dr. Khandelwal further added that the bank accounts of both the organizations, Orris Infrastructure and 3C Infrastructure Private Limited, have been seized.

    The investigation will also help the authority to decide upon a refund and compensation to the buyers if needed. The direction will bring relief to as many as 1,800 investors who have been running from pillar to post for possession of their homes since last three years.

    Pic Credit: Realty Plus Mag

    The license of Greenopolis was sought in 2011 while the project was sold during 2012 and 2013.  The construction on the project began in 2014  but later stopped abruptly after the completion of just 45% of the project. By the time, buyers of some 1,800 apartments had already paid over 80% of the price.

    HRERA’s move comes two days after the Supreme Court warned real estate companies against the rampant practice of diverting money deposited by the buyers to other projects.

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