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Flat transfers get delayed in Himachal Pradesh

Comments(2) Sub Category:Other cities,Residential Real Estate Posted On: Sep 04, 2012

Himachal Pradesh has halted plans of over 60 builders and developers to sell flats and cottages in the state.

The developers whose projects are in limbo include DLF, Janta Land Promoter Ltd, Omax Construction Pvt Ltd, Optima Construction Pvt Ltd, Amar Nath Aggarwal Builders Pvt Ltd and Surya Builders. Most of these developers’ projects are in Shimla and Solan districts.

Town and country planning minister Mohinder Singh asked the Assembly to repeal the Himachal Pradesh Apartment and Property Regulation Act of 2005. A new legislation will be in place to upgrade urban development and regional planning.

Until the new law is enacted, no registrations, essentiality certificates and licences are allowed to be issued or renewed under the act. Representatives of builders have stated that more than 1,000 apartments and cottages, which are near completion, are awaiting transfer in the name of buyers.

To read more real estate news:

Faridabad growing to become the most sought after real estate destination

2 Responses to “Flat transfers get delayed in Himachal Pradesh”

  1. smithjames says:

    Good Idea.! this is very Innovative information and very useful idea for Property in himachal.

  2. [...] Flat transfers get delayed in Himachal Pradesh [...]

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