From MD's Desk
FROM THE DESK OF THE MANAGING DIRECTOR
➢ Due to recent economic reforms, real estate is still passing through recessionary phase.
Many reputed developers are not able to complete the projects, deliver the possession of
DUs and are at the verge of bankruptcy. Our society, IRWO is also having some financial
constraints. However, due to active support of from Railway Board, Governing Body
members and our esteemed members, IRWO is confident to tide over the financial crisis.
➢ At present, IRWO projects are running at Jaipur, Kota, Chennai, Lucknow and Moradabad. Some ready to move-in DUs are available at Sonepat and Zirakpur.
➢ After receipt of all NOCs and approvals, work has started on Lucknow project.
➢ Sonepat is one of the biggest IRWO Project. Its completion certificate has been received in May, 2018. Now RWA has been formed and registered. Efforts are being made to hand over the maintenance of the Colony to the RWA. Execution of Conveyance Deed with the allottees for the DUs has been started.
➢ For Chennai Phase-IIA Project draw of lots and giving specific allotment of the unit has been done. The water supply and sewerage connections have been received from the State Government. Permanent electric connection has been provided in most of the DUs and meters are being fixed. Handing over of DUs to allottees is in progress.
➢ The progress of 161 DUs of Chennai Phase-IIB Project is quite satisfactory. All the units have been booked.
➢ Kota Phase-I Project consisting of 36 units has been completed and draw of lots for specific dwelling unit was held on 09-10-2018. One DU has been handed over to the allottee.
➢ A comprehensive tender which includes approval of plans, architectural services and construction of dwelling units has been called and opened. The tender is under process. In the mean time, pursuant to the judgment by the Hon’ble Supreme Court, a notification for the acquisition of over 3500-Acres of land, including IRWO’s plot of land, at Bengaluru has been issued by the Bengaluru Development Authority (BDA). IRWO has already taken up the matter with BDA and is sending a petition to the Hon’ble Supreme Court to exclude IRWO’s land from the acquisition as was done by BDA earlier.
➢ IRWO website has been upgraded further. Allottees of Kota project can now see the status of all their dues (including EC and Delay Charges) and payment on IRWO website from 1st Feb 2019. Sonepat, Moradabad, Zirakpur, Kota, Jaipur, Lucknow Phase-IV, Chennai Phase-IIA & IIB and Bengaluru projects will also be added gradually. Allottees may visit the website and offer their valuable suggestions for further improvements.
➢ Status of in-progress schemes is enclosed. With best wishes to you and your family!
Shri Abhay Misra