Nivas Promoters settles disputes with One Leaf Troy allottees by mutual settlement, ET RealEstate

October 4, 2023

NEW DELHI: The promoter of Nivas Promoters has resolved the dispute with its allottees of its residential project-One Leaf Troy by mutual settlement in collaboration of Renowned Buildtech as per the orders issued by Uttar Pradesh RERA (UP-RERA).

As per the mutual settlement between promoters and allottees, an amount of Rs. 62 lakh 11 thousand have been paid to all allottees to withdraw their matters.

After submitting the agreement signed with the allottees to RERA, the promoter has requested to dispose the complaints. Renowned Buildtech has cooperated in the settlement of the dispute by mediating as a third party.

The construction and development work of One Leaf Troy, located in Sector 10 of Greater Noida West, has been stuck for many years. When the promoter did not comply with the order, the allottees had filed Order Execution Requests on the RERA portal.

UP-RERA then issued an order to give the possession of the unit to the allottees within the stipulated time or return the deposited amount along with the interest for the delay period.

Earlier also, both promoters have resolved demands of various allotttes and paid Rs 1.50 crore to settle the dispute related to the same project.

  • Published On Oct 4, 2023 at 08:51 AM IST

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