Holding in thoughts the pursuits of attainable consumers, Chhattisgarh Actual Property Regulatory Authority (RERA) has taken motion on Parthivi Building Pvt Ltd’s “The White Symphony” venture positioned in Sector-15, Naya Raipur, for now not finishing the venture on time. Order has been given to ban the acquisition and sale of his land. In conjunction with this, RERA has canceled the registration order of “The White Symphony” venture with impact from 02 February 2022 at the software of Promoter Parthivi Building Pvt Ltd. With a view to offer protection to the hobby of attainable allottees via RERA, any withdrawal via Parthivi Building Pvt Ltd from all financial institution accounts in the case of the disputed venture is illegal.
It’s noteworthy that the venture “The White Symphony” of Parthivi Building Pvt Ltd was once registered with RERA. Because of non-informing RERA in regards to the quarterly development of the venture, motion was once initiated via the authority via registering a case towards the promoter. Promoter asked to begin the venture once more via converting the structure at the grounds of non-commencement of labor within the disputed venture and non-viability of the venture within the present marketplace industry stipulations. In this foundation, the promoter additionally asked RERA to terminate the registration of the venture. The Authority, on scrutiny of paperwork, discovered that the promoter had advised the allottees to near the venture and terminate the registration with out receiving the quantity. Due to this fact, retaining in thoughts the pursuits of the allottees, RERA banned the transactions within the respective financial institution accounts via issuing orders towards the promoters, prohibiting purchasing and promoting within the above venture. In conjunction with this, RERA additionally canceled its registration because of the promoter now not doing construction paintings within the venture.
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