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Noida: Real Estate Developer, Wave Mega City Center Pvt Ltd has deposited Rs 96 crore to the district administration under settlement of Recovery Certificates (RC) valuing a total of Rs 136 crore. UP-RERA,
In May, the district administration issued an order to auction 38 shops built by a developer in a commercial project in Sector 18 for non-payment. UP-RERAoutstanding.
With 70.5% of its dues now cleared, the district administration is likely to postpone the e-auction of Wave 1 Silver Tower shops in Sector 18.
However, administration officials said the decision to stop the auction is subject to regulations. wave group Clear your remaining dues. He said that in case of non-payment, the district administration confirms that legal action will be taken against the developer.
The shops in question, located in Wave 1 Silver Towers, were earlier attached by the administration. They range in size from 165 sqm to 1,240 sqm with a reserve price of Rs 48 lakh to Rs 2.7 crore.
As per the auction notice issued by Dadri Tehsil, the amount generated from the auction will be used to pay UP-RERA in respect of RC issued against the defaulter builder.
The district administration is taking strict action against the builders who have not cleared the dues of the allottees. In April, a drive was launched to collect Rs 503 crore against 1,705 RCs against 101 developers.
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