With around 700 homebuyers, Tamil Nadu Real Estate Regulatory Authority (TNRERA) has permitted to the Sahara Housing Investors Association to complete the project and has also appointed a committee to implement the sale deeds for undivided plots in favor of the buyers. This decision has come years after execution of mega real estate project ground to a halt.
The mega project which was to be built on 112.14 acres in Saravanamapatti on Sathymangalam Road was put on halt at the end of the year 2013 after Sahara Prime City Ltd and its sister companies failed to complete the project quoting financial constraints. With this decision, a six-year long struggle comes to an end and now homebuyers can take an easy breathes now.
C Lakshminarayanan, joint secretary of SHIHIA, said, “We started booking the flats and individual houses by paying a minimum of `3 lakh to a maximum of `1 crore. Totally, 700 people had invested money up to `100 crore.” He added that the association currently has 450 members.
 has permitted to the Sahara Housing Investors Association to complete the project.){kind=link}