U.P. RERA permits Rehabilitation, OC applied for 156 units of Kalypso Court

Gautambudh Nagar/ Lucknow, June 4, 2022: To offer possession in the Kalypso Court project, Jaiprakash Associates has applied for Occupancy Certificate from the Development Authority. Located in Sector 128, Noida, the promoter is all set to offer possession of 156 units of tower no. 11 and 12 of Kalypso Court to its allottees and future home buyers in the unsold units. During the construction progress review meeting of the project, the promoter informed the “Project Advisory and Monitoring Committee” (PAMC) of U.P. RERA. The project is being developed under provisions of section-8 of the RERA Act and the rehabilitation is being monitored under the supervision of U.P. RERA.

Kalypso Court project was stalled for almost five years and its registration with the U.P. RERA had lapsed. Under provisions of “Section 8 of RERA Act” with the consent of 51% of allottees of the Kalypso Court project, an order of “Project Rehabilitation” was passed on July 29, 2020. According to this order, the promoter, Jaiprakash Associates Ltd., had been permitted to complete the remaining construction and development work in the last 4 towers. To monitor financial transactions and construction development works of the project, a third-party construction consultant, Currie & Brown, was entrusted with the responsibility of presenting the ‘Project Progress Report’ in the periodic review meetings of PAMC constituted by U.P. RERA.

In the meeting, it was informed by the construction consultant that the promoter had applied for fire, lift, electrical and structural NOC of Towers 11 and 12 and got due approvals. According to the construction consultant, at present, the construction of the clubhouse and the remaining works of the landscaping of the project are in the final stages and development work of other common facilities is in progress. The promoter can give possession to the allottees of 156 units of both the towers very soon.

Under the provisions of Section 8 of the RERA Act, the completion of the remaining construction and development of stalled projects is permitted to either the promoters or the Association of Allottees. U.P. RERA permits rehabilitation of a closed project with consent of allottees to ensure OC/CC of the project and possession to the allottees.  

Presently 13 real estate projects are being rehabilitated in Uttar Pradesh which includes Sampada Livia, Knight Court, Kalypso Court, Apple 7, Novina Greens, Unibera, La-Casa Ansal Aquapolis, Casa Grand, La-Palacia, La-Galaxia, Spring View Heights, Vasundhara Grand in Gautam Buddha Nagar and Ghaziabad and Plumeria Homes in Lucknow.

Review meeting of projects rehabilitated under Section-8 is conducted by the “Project Advisory and Monitoring Committee” (PAMC) of U.P. RERA under the Chairmanship of Member, U.P. RERA.