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Noida: Chairman of Uttar Pradesh Real Estate Regulatory Authority… Rajiv Kumar has said that recovery certificates worth Rs 1,200 crore have been resolved across the state since 2018 through recovery and mutual consent between builders and home buyers.
Overall, recovery certificates (RCs) worth Rs 394.26 crore were resolved in the financial year 2022-23 alone, Kumar said at the 125th meeting of UP RERA on Wednesday, which was also his last working day as the authority’s chairman. ,
The 1981-batch IAS officer also served as the Chief Secretary to the Government of Uttar Pradesh before his appointment as the Chairman of UP RERA in 2018.
“Overall recovery certificates worth about Rs 1,200 crore have been resolved by the administration through recovery and mutual consent and this is the highest among all RERA institutions,” Kumar was quoted as saying in an official statement.
In fact, recovery certificates have seen a sharp jump post COVID-19 and have contributed almost 33 per cent since 2018 in FY 2022-23. Over 1,200 cases have been resolved through conciliation forums and assets worth about Rs 485 crore have been acquired. crore has been made dispute free,” he said.
Kumar said “about 75 per cent” requests for order execution received from consumers have been “addressed successfully” and in 2022-23, Rs 394.26 crore was collected from district administrations against recovery certificates issued across the state and Rs 353.37 crore Transferred to home buyers Rs. according to the process.
In Uttar Pradesh, currently, around 3,400 group housing projects are registered with UP RERA. Maximum of these projects are in Gautam Buddh Nagar (945), followed by Lucknow (702), Ghaziabad (418). Agra (184), Meerut (148), Varanasi (128), Kanpur (124) and Prayagraj (113), according to the statement.
During the 125th meeting of RERA, Kumar also inaugurated a coffee-table book describing the journey of the authority and its achievements since 2018.
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