Under Article (23) of Resolution No. (6) of 2010, RERA can cancel a project if the developer fails to start construction without a valid justification. Other grounds include a lack of genuine intention to implement the project or the bankruptcy of t…
Under Article (23) of Resolution No. (6) of 2010, RERA can cancel a project if the developer fails to start construction without a valid justification. Other grounds include a lack of genuine intention to implement the project or the bankruptcy of the developer. RERA issues a decision based on a technical report and must notify the developer. Following cancellation, the developer is legally required to refund all payments received from purchasers within sixty days.
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