Now, third parties can complete realty projects

Chandigarh, February 18

In a relief to investors and end users, the Haryana Government has allowed the Department of Town and Country Planning (DTCP) to get unfinished residential and commercial projects, whose licences have been cancelled, completed from the third parties.

According to the Haryana Development and Regulation of Urban Areas (Amendment) Rules, 2020, the DTCP can invite bids from the third parties for the completion of projects. The DTCP would invite bids after inviting suggestions and objections within a period of 30 days, the Rules said adding that a final statement of assets and liabilities of the builder, whose licence had been cancelled, would be published by the department on its website.

The government would be competent to hand over the colony to any state agency, including the HSVP or HSIIDC to take charge of all assets and liabilities and honour all existing contractual obligations of the defaulting licencees either before or after going through the bidding process. — TNS