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The Chandigarh Housing Board (CHB) has not yet registered itself as the promoter nor the much-delayed Sector 53 housing scheme with the Real Estate Regulatory Authority (RERA), which is a mandatory requirement. This indicates that the project's launch will likely face additional delays. In February, the CHB board of directors had approved the scheme and finalized the brochure, terms, and conditions last month.
CHB CEO Yashpal Garg stated that the board would apply for RERA registration within a week. According to the Real Estate (Regulation and Development) Act and the National Capital Territory of Delhi Real Estate (Regulation and Development) (General) Rules, 2016, it is mandatory for a promoter, including government agencies, to be registered with RERA, and the project must also be registered before it can be offered to the public.
The Sector 53 housing scheme's launch has faced numerous delays over the years. The initial plan was scrapped in 2018 after a demand survey revealed that there were not many takers for the scheme because of the high cost of dwelling units. For the 492 flats that were planned, only 178 applications were received. The prices for one-bedroom, two-bedroom, and three-bedroom units were Rs 86 lakh, Rs 1.28 crore, and Rs 1.5 crore, respectively. In March 2020, the board scrapped the scheme in Sector 53. However, officers were asked to consider framing a new scheme with lower costs.
The Real Estate Regulatory Authority (RERA) was established to protect the interests of homebuyers and enhance transparency in the real estate sector. RERA aims to ensure that developers adhere to project timelines and quality standards. It also provides a platform for aggrieved customers to file complaints against developers who fail to meet their obligations.
For the revival of the scheme, the CHB dropped the plan to construct 100 one-room flats. Under the revived scheme, the CHB now plans to offer 340 flats in three categories - 192 three-bedroom, 100 two-bedroom, and 48 two-bedroom EWS flats. The flats will be offered for Rs 1.65 crore for three-bedroom, Rs 1.40 crore for two-bedroom, and Rs 55 lakh for two-bedroom EWS.
The delay in the Sector 53 housing scheme registration with RERA has raised concerns among potential homebuyers who eagerly await the project's launch. The project's delay could result in potential homebuyers exploring alternative housing options in Chandigarh and surrounding areas.
In conclusion, the Sector 53 housing scheme's future remains uncertain, as the Chandigarh Housing Board still needs to register with RERA before proceeding. It is crucial for the board to complete the necessary registration process and ensure compliance with regulations to avoid further delays and provide affordable housing options for potential residents. The implementation of RERA regulations helps safeguard homebuyers' interests, promoting transparency and accountability in the real estate sector. The swift resolution of the registration issue is essential for the success of the Sector 53 housing scheme and the satisfaction of future residents.
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