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Noida: The Gautam Buddha Nagar The district administration has said it will initiate action against real estate defaulters from Friday, noting that more than Rs 500 crore is to be recovered from developers against whom Uttar Pradesh The Real Estate Authority has issued a notice.
District Magistrate Manish Kumar VermaThe one who took charge last month said that enforcement would be done against the builders in the next two days to recover the dues. Uttar Pradesh Real Estate Regulatory Authority (UP RERA).
Verma told reporters that thereafter, the defaulters would be further “named and shamed” and action would be taken as per law – including attachment and auction of their properties.
According to officials, the total amount of dues for which recovery certificates (RCs) have been issued is over Rs 1,700 crore, but the “recoverable” amount is Rs 503 crore, as seven to eight builders have approached the National Company Law Tribunal. Through filed for bankruptcy. NCLT).
“There are over 1,700 RCs and the recoverable dues exceed Rs 500 crore. We are currently not working on RCs that are under litigation or have been stayed by a court. We have details and we will take action. Recovery starts with ‘munadi’ against them,” Verma said.
He said that the administration has already taken action in some cases, sealed the properties of the defaulters and now their cases will be re-examined, properties will be attached and their properties will be auctioned to recover the dues. .
“Our ultimate aim is to get back the common man’s hard earned money fast which is stuck with the builder. This whole action plan is to increase the pressure on the defaulters and they will return the common man’s money soon.” the IAS officer said.
He said there are over 100 builders who are defaulters – 28 in Sadar tehsil and 73 in Dadri tehsil.
Giving a strong message to the defaulters, DM Verma said, “UP RERA has issued RC after hearing and there is no way to avoid it. Take strict action in future.”
Additional DM (Finance & Revenue) Vandita Srivastava said these RCs are only from UP RERA and not local Noida Authority or Greater Noida Authority.
Srivastava said, “Since RERA was formed in May 2018, the district administration has been receiving an average of 150 to 200 RCs every month. The total number of RCs so far is 4,571, which in aggregate is about Rs 1,728 crore. ”
“These RCs have been processed at Tehsil level since 2018 till date, except for the period of peak COVID-19 pandemic from March 2020 to February 2022, during which no coercive action was taken against the builders in compliance of the court order Was.” He said.
Srivastava said that last year the district administration managed to recover over Rs 200 crore of RERA RCs from defaulters, while the total recovery since 2018 is around Rs 365 crore.
The ADM said that during the last year, several defaulting builders settled with homebuyers in cases totaling over Rs 344 crore.
“Now we are going to intensify our efforts to recover dues through this drive against defaulters,” Srivastava told reporters.
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