In the first of its kind order, the Real Estate Regulatory Authority (RERA) of Haryana’s Panchkula Bench has asked a group of residents to raise funds within to take over the project and complete the leftover construction work and move into their dream home.

It is a major relief for the homebuyers who were expecting completion of their flat by 2011 but could not get it as builder failed to complete the project within the specified time frame. As per them, they are ready to pay 15-20% extra but at least they will get their flats.

Haryana RERA’s Panchkula Bench has suggested them to form an association and ready to pay extra money if needed. Over 100 residents of Faridabad’s Piyush Heights Society have agreed to pool in Rs 8 crore each to complete the project.

There are 16 residential towers in the society and the builder had given possession for 14 towers only. The remaining 2-towers left incomplete and the buyer had to move RERA as the builder couldn’t give possession in time.

According to the RERA order, the builder of the Piyush Heights failed to appear in the hearing in the court despite public notices and in the 6th hearing, a spokesperson of builder asked for a postponement. RERA rejected a postponement to the respondents. Some of the unsold flats will be sold by the district authority to recover the cost.