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Greater NoidaOfficials sealed the office of the realty firm La Residentia Developers Private Limited for Failed to refund Rs 15 crore to its home buyers la residentia Project in Techzone 4 despite repeated notices.
Taking action, Dadri Sub-Divisional Magistrate (SDM) said that if the developer does not make the payment soon, the office will be auctioned. Around 40 home buyers of La Residentia had filed a case with UP Real Estate while awaiting possession or registry of their flats. regulator authority (RERA) for recovery payment.
Dadri SDM Alok Kumar Gupta said, “The regulator later asked the district administration to recover the money from the developer and refund it to the buyers. Even after several notices, the developer is yet to return the money. So, we held on Thursday. Sealed his office.”
La Residentia, launched in 2010, had a 2014 deadline. Some towers in the society have been completed, but the developer has not handed over all the flats in them. Others are still under construction. Some of the homebuyers who approach RERA are among 1,200 families who have got possession but are awaiting their flat registries, while others are among 1,500 families who are awaiting possession.
According to homebuyers, the construction work on the unfinished towers has been stalled since 2017. Another buyer Deepak Kumar, who had applied for recovery payment and obtained recovery certificate from RERA, said, “I had booked the flat in 2014. My father had retired. In 2015 and all his retirement in buying the flat. We had to get it in four years. We waited for four years before renting a 2-BHK flat in La Residentia to check the condition of our house. We never knew anyone inside the society. also saw the worker, so we finally applied for recovery payment in 2019.”
Pankaj Jain, one of the directors of La Residentia Developers Pvt Ltd, told TOI that he has nothing to say about the SDM action.
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