Pre-RERA Project – Spirewoods Gurugram Uncertain Of Completion Despite Resolution Plan

Home buyers of Spirewoods Gurugram sector 103, have been stuck for the last 12 years. The project is one among the many in NCR region that began construction in the pre RERA period, where the builders either diverted funds elsewhere or siphoned them off. Resultant incomplete projects, desperate for revival have led home owner's organisations to bring in a new developer, who is now seeking waivers from town and country planning authorities. Will the government step up and waive interest and moderate development charges to help home buyers ? Is there a precedent the government could follow in order to grant a 'bail out', keeping the larger good of the home buyers? Property Show Editor Manisha Natarajan in conversation with advocate Adtiya Parolia – Partner, PSP Legal