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Delhi RERA Orders NBCC To Register Saket Plaza Project, Form Allottees’ Body
Delhi RERA Orders NBCC To Register Saket Plaza Project, Form Allottees’ Body
The Authority held that the “Occupancy Certificate” granted by the Municipal Corporation of Delhi (MCD) in 2011 was only a partial certificate and not a final completion certificate.
New Delhi: In a significant majority ruling, the Real Estate Regulatory Authority (RERA), Delhi, has recently directed state-owned NBCC (India) Ltd to register its NBCC Plaza Complex project at Saket under the Real Estate (Regulation and Development) Act, 2016 within 90 days. The order, passed by a majority bench headed by Chairperson Anand Kumar and Member Ajay Kumar Kuhar with Member Devesh Singh dissenting, comes after years of litigation initiated by Rajeshwari Realty Pvt Ltd, one of the largest buyers in the project.
The Authority held that the “Occupancy Certificate” granted by the Municipal Corporation of Delhi (MCD) in 2011 was only a partial certificate and not a final completion certificate. “A partial occupancy certificate cannot be equated with a completion certificate. Hence, the project remains incomplete and requires registration under the Act,” the bench observed. The Delhi RERA directed the NBCC (India) to register the 'NBCC Plaza Complex, Saket' with RERA, NCT of Delhi within 90 days of the order. It also directed the NBCC to form 'Association of Allottees' for the "NBCC Plaza Complex, Saket" project and transfer the maintenance and management of the common areas and facilities to the said 'Association of Allottees' within 90 days of this order, in accordance with the provisions of the RE(RD) Act, 2016 and the rules.
The RERA also directed the NBCC to obtain the requisite Lease Deed from the competent authority and procure the Completion Certificate from the competent authority for the "NBCC Plaza Complex, Saket" project within 90 days.
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"Respondents are directed to execute proper Conveyance/Sub-Lease Deeds in favour of the allottees in respect of their respective allotted premises in the "NBCC Plaza Complex, Saket" project after obtaining the Completion Certificate as directed above and as per the provisions of the RE(RD) Act, 2016," reads the order.
The dispute traces back to 2007 when NBCC auctioned commercial space in the project. Rajeshwari Realty purchased 78,350 sq. ft. of built-up area along with 118 parking slots for over Rs 158 crore. While possession was handed over in 2008, the complainant argued that NBCC never obtained a valid completion certificate, failed to execute conveyance deeds, and did not facilitate the formation of an Association of Allottees as required by law.
NBCC contended that the project had been completed long ago and was fully occupied, citing the 2011 certificate as proof. However, RERA noted NBCC's own internal correspondence and even admissions in its Red Herring Prospectus, where it described the certificate as “partial”. The Authority also pointed out that no lease deed for the project land has been executed even after 22 years of allotment, raising questions over the legal chain of title. The dissenting Member Devesh Singh, held that the 2011 certificate amounted to completion, and the project need not be registered.
Source: ZeeNews
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