MPRERA would facilitate completion of projects

Dated on: Saturday 7th April 2018

Real Estate Regulatory Authority (RERA) of Madhya Pradesh would ensure completion of real estate projects in case promoters leave a project and escapes after collecting funds from buyers. MPRERA will incorporate a committee of buyers which will decide the future course of the stalled project. This move was taken in response to a complaint filed against an Indore based developer where promoter escaped after collecting money. But the option would be considered only when the majority of investors want RERA to intervene and form the committee, the chairman said, adding that RERA would not force the investors to go for this option.