Raipur, June 21, 2026: Taking a significant step to safeguard the interests of homebuyers, the Chhattisgarh Real Estate Regulatory Authority (CGRERA) has issued a strict directive to a project promoter to transfer the entire sinking fund and the management of common areas to the cooperative residential society with immediate effect.
Officials stated that RERA ruled in favour of the residents in a crucial case concerning the registered residential project ‘Harshit Neoj City,’ located in village Amleshwar, Durg district.
The Authority has strictly directed the project promoters, Singhania Buildon Pvt. Ltd. and M/s Harshit Singhania Buildon, to transfer the full sinking fund amount and the management of common areas to the cooperative residential society immediately.
This order brings major relief to the residents of Harshit Neoj City and their cooperative society, resolving a long-standing dispute.
The matter came to light when the ‘Harshit Neoj City Residential Cooperative Society Maryadit’ filed a complaint with RERA against the project promoters, Singhania Buildon Pvt. Ltd. and M/s Harshit Singhania Buildon.
In its complaint, the society raised serious issues, including deficiencies in the project’s maintenance system, irregularities in the operation of shared amenities, the failure to transfer the sinking fund amount, and the refusal to hand over common areas to the society.
Following a detailed hearing, Chhattisgarh RERA issued strict directives while holding the promoter accountable. The Authority ordered that the entire sinking fund amount collected by the promoter from flat/unit holders be transferred to the society’s account immediately, in accordance with the rules.
RERA clarified that this fund is crucial for the long-term maintenance, repair, and structural preservation of the premises and belongs solely to the residents.
Citing Section 17 of the RERA Act, 2016, the Authority has directed the transfer of all common areas and associated rights to the society.
Under the law, it is the builder’s statutory obligation to hand over ownership of common areas to the association of allottees or the society upon the project’s completion.
In its ruling, RERA has made it clear that any negligence or delay in transferring common assets and accumulated funds will not be tolerated. A timely transfer will now grant the project’s actual stakeholders, the residents, full authority and control over decisions regarding the maintenance and operation of their premises.
Experts believe that this firm stance by RERA will set a precedent for ensuring the statutory accountability of promoters and fostering transparency within the real estate sector.
