HappyNest bound by RERA, says APCRDA

He explained that while the estimated time of construction was three years, the flats could be handed over between 24 to 30 months.

Published: 09th November 2018 03:20 AM  |   Last Updated: 09th November 2018 10:18 AM   |  A+A-

By Express News Service

VIJAYAWADA: With the Andhra Pradesh Capital Region Development Authority (APCRDA) announcing that the HappyNest project would be completed in around three years, one of the major concerns among the prospective buyers is the associated political risks due to impending polls, which may result in change of the government.

This was evident when one of the participants, during the awareness meeting organised by the authority on Thursday, asked the officials as to what would happen to the investments if there was to be a change in the political scenario in the State after the upcoming polls.

Project Manager Venkata Ramana explained that the HappyNest project was approved by the Centre’s Real Estate (Regulatory and Development) Act and by the Andhra Pradesh Real Estate Regulatory Authority.
“We will be liable if there were to be any violations. If there is any delay in handing over the flats as promised, we will be liable to pay interest on your investments,” he said.

He explained that while the estimated time of construction was three years, the flats could be handed over between 24 to 30 months.Meanwhile, the authority has arranged 20 help desks to assist the public, especially senior citizens, while making a booking.“The help desks will be available at the APCRDA office in Lenin Centre. The flats will be allotted on first come, first served basis,” the officials said.

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