Pune: Housing Project Beneficiaries in Pimpri Chinchwad Urged to Complete Lease and Registration Process
Pune Housing Project Beneficiaries in Pimpri Chinchwad Required to Complete Lease and Registration Process, PMRDA Urges Parties to Finalize Procedures
PunePimpri ChinchwadPmrdaHudcoHousing Project BeneficiariesReal Estate PuneAug 09, 2024
The housing projects were financed by the Housing & Urban Development Corporation Limited (HUDCO) through the Pimpri Chinchwad New Town Development Authority (PCNTDA), which has since been merged with the PMRDA. However, some beneficiaries have yet to complete the lease and registration process for their flats.
Beneficiaries were required to pay instalments for their flats within the prescribed period and subsequently register the lease. It has come to light that some beneficiaries failed to make the payments on time and have not signed the lease. As a result, these beneficiaries are expected to contact the PMRDA’s Land and Estate Department to complete the lease and deed process.
The PMRDA has surveyed the properties of these beneficiaries, issued notices, and directed them to finalize the lease. The concerned parties are urged to complete the lease process within the specified period. Actions will be proposed against those who fail to comply. Additionally, if any flatholders have transferred their flats to others, they must complete the transfer process.
PMRDA Commissioner Dr Yogesh Mhase has appealed to the concerned parties to address this issue promptly and complete the lease and registration process.
Information
The Pune Metropolitan Region Development Authority (PMRDA) is a planning and development authority for the Pune Metropolitan Region. It was established in 2015 and is responsible for preparing and implementing plans for the development of the region.
The Housing & Urban Development Corporation Limited (HUDCO) is a public sector undertaking that provides financial assistance for housing and urban development projects in India.
Frequently Asked Questions
What is the PMRDA?
The PMRDA is the Pune Metropolitan Region Development Authority, a planning and development authority for the Pune Metropolitan Region.
What is HUDCO?
HUDCO is the Housing & Urban Development Corporation Limited, a public sector undertaking that provides financial assistance for housing and urban development projects in India.
Why are beneficiaries required to complete the lease and registration process?
Beneficiaries are required to complete the lease and registration process to finalize the ownership of their flats.
What action will be taken against those who fail to comply?
Actions will be proposed against those who fail to comply with the lease and registration process.
Can flatholders transfer their flats to others?
Yes, flatholders can transfer their flats to others, but they must complete the transfer process.
Related News Articles
Rising to the Top: Max Estate's Strategic Play in Delhi-NCR's Booming Real Estate Market
Explore how Max Estate is leveraging its unique strengths to tap into the vast potential of Delhi-NCR's thriving real estate sector.
India's Real Estate Market Poised for Explosive Growth, Set to Reach $10 Trillion by 2047
The Indian real estate market is expected to play a crucial role in the country's economic growth, with a projected value of $10 trillion by 2047.
Mumbai Property Registrations See 5% Uptick in November: Knight Frank
The real estate market in Mumbai has shown signs of recovery with a 5% increase in property registrations in November, according to a report by Knight Frank. This positive trend is expected to continue as more buyers enter the market.
Real Estate Sector Sees Unprecedented $8.8 Billion Institutional Investments
The real estate sector has witnessed record-breaking institutional investments, with the residential segment attracting nearly half of the inflows, followed by office buildings and warehousing spaces.
Kering and Ardian Announce Strategic Investment in Paris Real Estate
Kering and Ardian have signed a significant investment agreement, focusing on prime real estate assets in Paris. This move is expected to bolster both companies' portfolios and strengthen their presence in the luxury and investment sectors.
Mumbai Police Closes Fraud Case Against HDIL Promoters: Rakesh and Sarang Wadhawan
The Economic Offences Wing (EOW) of the Mumbai Police has filed a 'C Summary' report, effectively closing the case against HDIL promoters Rakesh and Sarang Wadhawan. The case involved allegations of illegal sale of office units in the Kaledonia commercial