UP RERA: Recovery from defaulter builders of Noida started, more than Rs 500 crore will be recovered
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District Magistrate’s initiative
This initiative has been taken by Manish Verma, who took charge as the District Magistrate of Gautam Budh district last month. He had said on Thursday itself that the builders who owed the Uttar Pradesh Real Estate Regulatory Authority (UP RERA), would be paid for the next two days to give them a chance to pay the amount. Full time will be given to the builders to clear the dues. If this does not happen then action will be taken against them as per rules.
If you do not return the money of the buyers then it is fine
The District Magistrate has said that strict action will be taken against the builders who do not return the money to the flat buyers of Gautam Buddha district. Since May 2018, UP RERA has been issuing recovery certificates (RC) against builders. According to Verma, the district administration has 1,705 RCs worth Rs 503 crore issued by UP RERA. Now Munadi will be made by visiting the house and office of the defaulter builders. The District Magistrate says that by beating the drum in Munadi, the name of the builders, RC of UP RERA and other information including the outstanding amount will be given. Along with this, notice will be pasted outside the office and house of the builders.
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Property will be attached if dues are not deposited
Through Munadi, the people living in the neighborhood will also be informed about the defaulters of the builder. According to the District Magistrate, not only the builder’s project, but also in the surrounding areas will be paid. He has warned that the builders should deposit the money, otherwise action will be taken to attach their property.
Campaign will run on a large scale for two days
The District Magistrate says that on Friday and Saturday, a large-scale campaign will be conducted for two days. From today, more than 30 teams of Dadri and Sadar tehsils are visiting the houses and offices of the builders and collecting money. Some builders live in cities of Delhi and Haryana. A campaign will also be launched against such builders. Munadi will be made by visiting the homes and offices of the defaulter builders living in Delhi and Haryana. In this, the help of local administration, Noida and Greater Noida authority will be taken.
UP RERA is issuing RC from May 2028
According to the District Magistrate of Gautam Buddha Nagar, UP RERA is issuing RCs since May 2018. Since then, 4,571 RCs have been received by the Gautam Budh Nagar district administration. Which is Rs 1,728 crore. Out of these, 724 RCs worth Rs 344 crore were returned after a compromise was reached between the buyers and the builder.
Where are the many outstanding builders
According to the District Magistrate, there are 73 outstanding builders in Dadri Tehsil. He has an outstanding of Rs 487 crore of 1,325 RCs of UP RERA. There are 380 RCs of 28 builders in Sadar Tehsil. Its amount becomes Rs 129 crore.
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