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Greenopolis developers given 15 days to register with Hrera
Hindustan Times  |  July 25, 2018

Abhishek Behl Gurugram

Haryana Real Estate Regulatory Authority (Hrera) has directed the developers of Greenopolis project to get registered with it within 15 days.

 

In a detailed order that was released on Monday, the authority also issued directions for the appointment of an independent financial auditor and a surveyor to assess the project, which is being jointly developed by Orris Infrastructure and Three C Shelters Private Limited.

 

A hearing in the case was held on July 12.

 

The order read, “It is directed that independent auditor and surveyor be appointed within one week and consolidated due diligence report to be submitted within one month from the date of appointment. The charges for carrying out due diligence (including quantity/survey and financial audit) to be paid and borne by Three C and Orris in the ratio of 65:35.”

 

The project was launched in July 2012 with a commitment that delivery of the apartments will be started by 2015. There are 29 towers in the project with 1800 flats spread over an area of 47 acres.

 

The authority also proposed the appointment of Grant Thronton as financial auditor and Currie and Brown as Quantity Surveyor. The developers were also asked to furnish complete details of registration of Greenopolis project with Hrera.

 

The order also directed that Orris Infrastructure be restrained from the alienation/ creation of any kind of rights, encumberance, sale, transfer etc on 10 acres land.

 

The order issued by Hrera also reveals that the promoter and the land owner of the project is Orris and 15 individuals/

 

group companies belonging to it, which own 35% of the total built up area/units and saleable facilities. The developer Three C owns 65% saleable facilities as per the development agreement. Also the total amount collected by promoters is Rs300 crore by Orris and Rs825 crore by Three C. The amount claimed as spent on the project by developer Three C is Rs825 crore.

 

“An independent surveyor and auditor has been appointed to assess the project both financially and quantitatively. The surveyors and auditor shall submit their report within three months to the committee headed by senior town planner, and counsels of both parties as well as technical staff shall submit report suggesting the solution for completion of the project in a pragmatic manner,” said the order by real estate regulator.

 

A senior Hrera official said that the decision of the regulator was aimed at resolving the problems faced by buyers.

 

The promoter of the project was not available for comment despite calls and messages on Tuesday.

 

However, on July 12, when the hearing was held, a spokesperson for Orris maintained that they would abide by the directions of the authority, and were committed in delivering the project.

 

“The directions issued by Hrera would be followed in letter and spirit. We want the authority to ensure that all the stakeholders are asked to fulfil commitments made by them,” an Orris spokesperson had said.