Construction Industry News
The National Real Estate Development Council (NAREDCO) Uttar Pradesh has appealed for the central government’s intervention to address delays in completion of stalled housing projects in the state. The plea highlights the significant setbacks faced by the real estate sector due to these delays.
NAREDCO UP has reported that several housing projects have been stalled due to various administrative and financial hurdles. These delays have adversely affected both homebuyers and developers, leading to increased costs and longer timelines.
In response, NAREDCO UP has formally contacted the central authorities and urged them to take urgent action to resolve the issues. The organization has requested support in streamlining approvals and addressing regulatory bottlenecks that have contributed to the project delays.
The call comes at a crucial time when the real estate sector is grappling with multiple challenges including slowdown in construction activities and financial pressure on developers. The NAREDCO UP initiative is aimed at creating a more conducive environment for completion of housing projects and ensuring timely delivery to buyers.
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