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The Tamil Nadu Nadu Real Estate Regulatory Authority (TNRERA) has directed the State Bank of India Officers’ Association (SBIOACC), Chennai Circle, to register its housing project in Mambakkam under the RERA Act earlier than December 31.
It has dominated that since the project has been promoted on a ‘no profit, no loss’ foundation, the affiliation has no proper to retain any flats for his or her use for any goal with out accumulating any gross sales consideration and any surplus in the project ought to be credited to the Association of allottees. Twelve allottees from the project named SBIOA Unity Enclave, Medavakkam Road, Mambakkam, had moved the authority stating that the possession of the house was handed over to them in an incomplete state.
The membership home and industrial advanced had not been accomplished and a everlasting electrical energy connection had not been obtained though the building started in 2014. The TNRERA famous that the actual property project had not been accomplished as on May 2017 and it’s an ongoing project which ought to be registered under the Act.
It additionally mentioned the allottees had been free to transfer the Adjudicating Officer of the TNRERA in search of compensation for the delay.
The Authority directed SBIOACC to full all the widespread facilities in all respects and hand it over to the allottees earlier than December 31. It additionally directed the affiliation to convey the land earmarked for the Sports Academy, measuring 4.525 acres, industrial advanced and membership home and different parcels of land bought with the sale consideration paid by the allottees to the SBIOACC Unity Enclave Owners Welfare Association (Association of Allottees) earlier than the finish of the yr with out fail to meet the shortfall in undivided share.
It additionally rejected the plea by the promoter of the project that the defect legal responsibility for the project is barely legitimate up to August 2019 and can’t be prolonged. The TNRERA famous that as per the provisions of the RERA Act, the promoter is accountable for fixing any structural defects introduced to his discover inside 5 years from handing over the possession of the flat.
The authority additionally famous it was the duty of the promoter to acquire energy connection for all facilities. The authority additionally dominated that M. Mohan, who was the chairman of housing committee of the project from August 2014, although superannuated, was collectively accountable for the execution of the project together with the SBIOACC and fulfil the obligations as per legislation.
The building contract was signed between the chairman and the contractor on March 2015 throughout his tenure for a contract value of ₹547.88 crore, it famous.
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