On lapse or revocation, the Authority may facilitate completion through the competent authority, association of allottees or another mechanism; the associa
Finin2min summary
On lapse or revocation, the Authority may facilitate completion through the competent authority, association of allottees or another mechanism; the association has first right of refusal.
Source review date: 4 July 2026. Read with the official text and the facts of the transaction.
Legal anchors
- Sections 7 and 8
- State stalled-project frameworks
How to analyse it
- Assess physical, financial and title status.
- Secure records and project account.
- Prepare completion cost and funding plan.
- Address creditor, local-authority and IBC overlap.
Practical illustration
Allottees propose to complete a 70%-built project. A bankable plan requires title, contractor claims, approvals, unsold inventory and financing analysis.
What can go wrong?
- Ignoring secured creditor rights
- No technical completion audit
- Unclear control of unsold units
Evidence pack
- Forensic project report
- Cost-to-complete model
- Claims register
- Authority order
Decision workflow
- Freeze the facts and effective date.
- Identify the controlling Act, rule, notification, circular and jurisdictional overlay.
- Prepare a calculation or exposure note.
- Collect the evidence pack before filing, payment, signing or response.
- Record reviewer conclusion and assumptions.
Quick Q&A
Is the result automatic?
No. Assess physical, financial and title status.
What is the most important control?
Address creditor, local-authority and IBC overlap.
What should be escalated?
Ignoring secured creditor rights, especially where money, deadlines, enforcement, personal liability or irreversible transaction steps are involved.
Official source trail
Secondary commentary may help interpretation, but it is not the source of law.