Tag: Uttar Pradesh RERA

Rera

About ₹128 crore returned to over 350 homebuyers this year: UP-RERA

LUCKNOW: The Uttar Pradesh Real Estate Regulatory Authority (UP Rera) has claimed to have recovered Rs 128 crore from promoters who failed to complete their housing projects and deposited the amount into the bank accounts of around 376 homebuyers so far this calendar year. With this, UP Rera has, to date, transferred Rs 1,360 crore into the bank accounts of approximately 5,500 homebuyers who never received possession of their homes. “So far, we have issued over 12,900 recovery certificates (RCs) worth Rs 3,900 crore, predominantly in the national capital region (NCR). We assure every complainant (homebuyer) who has approached Rera…

Industry

Government tries to auction flats to recover dues of Newtech Promoters, gets no takers

NOIDA: Four flats of Newtech Promoters and Developers up on auction to recover dues failed to attract any buyers. The auction was conducted last week by Sadar tehsil as part of recovery proceedings after the builder defaulted on payments worth Rs 5.7 crore. The flats were part of the La Galaxia project in Greater Noida. Despite prior announcements and notices, officials said no one turned up to bid for the flats on June 4, leading to the cancellation of the auction. “The builder was served repeated notices but failed to deposit the dues. As part of the recovery process, four…

Rera

UP-RERA streamlining process of projects registration, dispute resolutions of homebuyers

NEW DELHI: Uttar Pradesh’s Real Estate Authority Chairman Sanjay Bhoosreddy on Friday said it is making efforts to streamline the process of registration of projects as well as dispute resolutions between builders and buyers. Addressing a real estate conference at Noida, Bhoosreddy said the property market in the state has been growing with the application of registration of projects coming from many districts in the states. Real estate developers need to register projects to start marketing activities and sell their inventories. “We are trying to make the system transparent as much as possible. We are trying to streamline within our…

Rera

Uttar Pradesh RERA removes 12 employees over integrity issues

representative image NEW DELHI: Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has dismissed a total of 12 employees of different categories in the past years on the basis of doubtful integrity and conduct. These include three junior engineers, two LCRA, one assistant accountant, four computer operators, one help desk employee and one peon. Recently, the anti-corruption team arrested an UP-RERA accountant while accepting a bribe from a homebuyer. Sanjay Bhoosreddy, chairman, UP-RERA said, “An affidavit of integrity is also taken from every officer and employee in RERA. CCTV cameras have been installed in all the rooms in RERA office and…

Rera

Uttar Pradesh RERA warns builders not to hand over incomplete flats to buyers

NOIDA: UP Rera has warned developers not to hand over incomplete, or ‘canvas flats’, to homebuyers, and violating this rule could attract large sums of penalties. The notice, issued on May 8, came in response to complaints from homebuyers, who allege that developers are forcing them to take possession of bare-shell units – which are often devoid of proper flooring, electrical fittings, plumbing and kitchen furnishings – while signing the builder-buyer agreements (BBA). Rera said in the notice that such practices were a serious breach of the Real Estate (Regulation and Development) Act, 2016, which mandates that ready-to-move-in apartments can…