{"id":27789,"date":"2018-10-23T16:13:55","date_gmt":"2018-10-23T10:43:55","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=27789"},"modified":"2018-10-23T16:13:55","modified_gmt":"2018-10-23T10:43:55","slug":"delays-plague-projects-despite-rera","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/delays-plague-projects-despite-rera\/","title":{"rendered":"Delays plague projects, despite RERA"},"content":{"rendered":"<p><a href=\"https:\/\/www.thehindu.com\/business\/Industry\/delays-plague-projects-despite-rera\/article24786646.ece\">Delays plague projects, despite RERA<\/a><\/p>\n<p><u>News: <\/u><\/p>\n<ol>\n<li>The bulk of property locked in delayed projects across India, causing distress among homebuyers.<\/li>\n<\/ol>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-24684\" src=\"https:\/\/i0.wp.com\/blog.forumias.com\/wp-content\/uploads\/2018\/08\/ho.jpg?resize=585%2C328\" alt=\"\" width=\"585\" height=\"328\" srcset=\"https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2018\/08\/ho.jpg?w=585&amp;ssl=1 585w, https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2018\/08\/ho.jpg?resize=150%2C84&amp;ssl=1 150w, https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2018\/08\/ho.jpg?resize=300%2C168&amp;ssl=1 300w\" sizes=\"auto, (max-width: 585px) 100vw, 585px\" \/><\/p>\n<p><u>Important facts:<\/u><\/p>\n<p>2. The bulk of this property is located in the National Capital Region(NCR) and the Mumbai Metropolitan Region(MMR).<\/p>\n<p>3. As per findings by PropEquity, a real estate analytics company, most units in housing projects across India are running \u2018significantly behind their delivery deadlines\u2019 with construction delays.<\/p>\n<p>4. The National Capital Region accounts for more than 70% of projects that have failed to meet completion deadlines.<\/p>\n<p><u>5. The projects are on hold due to the following reasons :<\/u><\/p>\n<ul>\n<li>Financial constraints<\/li>\n<li>Execution challenges<\/li>\n<li>Surplus supply due to over-ambitious launches by developers.<\/li>\n<li>Environmental clearance and slowing sales<\/li>\n<li>Funding is another issue.<\/li>\n<li>RERA, a law brought in to enforce strict norms on developers, has not helped solve the issue as it had allowed developers to offer new completion dates without facing financial penalties.<\/li>\n<li>Under RERA, the developer has given a new completion deadline.<\/li>\n<li>Under RERA, one has to complete the project in time.<\/li>\n<li>RERA has given an opportunity to developers to be transparent and deliver as per new deadline.<\/li>\n<li>The forest land issue had stalled many projects in Mumbai and Thane.<\/li>\n<\/ul>\n<p>6. Developers are now looking for JV partners who can bring capital to complete the struck projects.<\/p>\n<p>7. One solution before REERA is to enforce original completion dates which will force developers to expedite these joint ventures.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Delays plague projects, despite RERA News: The bulk of property locked in delayed projects across India, causing distress among homebuyers. Important facts: 2. The bulk of this property is located in the National Capital Region(NCR) and the Mumbai Metropolitan Region(MMR). 3. As per findings by PropEquity, a real estate analytics company, most units in housing&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/delays-plague-projects-despite-rera\/\">Continue reading <span class=\"screen-reader-text\">Delays plague projects, despite RERA<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[555],"tags":[],"class_list":["post-27789","post","type-post","status-publish","format-standard","hentry","category-test-1","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704954079},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/27789","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=27789"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/27789\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=27789"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=27789"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=27789"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}