GURUGRAM: The Delhi Real Estate Regulatory Authority (RERA) has mandated state-run NBCC Ltd to register its NBCC Plaza Complex at Saket—a completed property where allottees received possession 17 years ago—as an ‘ongoing project’ under the RERA Act of 2016.
This directive, issued by a majority bench led by Chairperson Anand Kumar and Member Ajay Kumar Kuhar, followed a complaint from Gurgaon-based Rajeshwari Realty Pvt Ltd, one of the major stakeholders in the project. The complaint highlighted that NBCC failed to execute conveyance deeds, form an association of allottees, and manage common areas—key obligations outlined under the RERA framework.
The bench noted that the occupancy certificate provided by the Municipal Corporation of Delhi (MCD) in 2011 was partial. “A partial occupancy certificate cannot be equated with a completion certificate. Hence, the project remains incomplete and is subject to registration under the Act,” they remarked.
An NBCC spokesperson stated, “We are currently reviewing the Delhi RERA’s order and will proceed with actions as deemed appropriate in accordance with the law.”
In 2007, during an auction for commercial space at the Saket Plaza Complex, Rajeshwari Realty acquired over 78,000 square feet along with 118 parking slots for ₹158 crore. Although possession was granted in 2008, the company asserts that NBCC never secured a valid completion certificate or executed the necessary lease deed for the land.
In defense, NBCC argued that the project had long been completed and fully occupied, claiming that the partial occupancy certificate sufficed as evidence of completion. However, the Delhi RERA cited NBCC’s own records and filings, including disclosures in its red herring prospectus, where it referred to the certificate as “partial.”
RERA has ordered NBCC to register the project within 90 days, obtain a valid lease deed and completion certificate, assist in forming an association of allottees, and execute conveyance deeds in favor of all buyers.
Member Devesh Singh provided a dissenting opinion, asserting that the 2011 certificate constituted completion and that the project didn’t require registration.
A spokesperson for Rajeshwari expressed gratitude to RERA for bringing this project under its oversight, emphasizing that it had faced numerous conveyance and completion challenges over the past 15 years. This new directive offers much-needed relief for allottees in a timely manner under RERA governance. The spokesperson also expressed hope for collaborative efforts with NBCC to complete and hand over the project within the stipulated 90 days, as per the order.
