UP-RERA faces criticism over slow progress in resolving cases, ET RealEstate

June 23, 2023

LUCKNOW: On the Twitter timeline of the apex real estate regulatory body UP-Rera, Shushant Goel posted: “I’m going to finish my life, because of red tapism.

My hard-earned money has been grabbed by fraud builders… despite having a refund order by UP-RERA and Allahabad high court, my refund has been denied,”(sic). Buyer Pankaj Tiwari wrote on Twitter, “I have a 2018 recovery certificate order from UP-RERA, but to date, it has not been executed.”

There are scores of such tweets on UP-RERA’s Twitter handle. A homebuyer Har Srivastava wrote on Twitter, “For several years, we have been fighting a case to get our money back. Earlier, my father used to pursue the case at UP-RERA, but he passed away two years back, so now I’m pursuing it. We have no family income source and are in desperate need of money. Please settle our case.”

According to a report submitted before Allahabad high court, UP-RERA since its inception in 2017 (first case taken on September 4, 2018) has issued 6,866 recovery certificates (RCs) for Rs 2,125 crore but recovered only Rs 504 crore in 2,558 RCs, including partial recovery of Rs 101 crore in 1,132 matters.

The body claimed in its report that an additional Rs 184 crore was recovered with the mutual settlement between homebuyers and promoters/builders, according to data till March 31, 2023.

When TOI asked why has it failed to give relief to such a large number of homebuyers, UP-RERA chairperson Rajive Kumar said, “Recently, Wave Megacity Centre submitted a cheque for Rs 101.36 crore against RCs issued by UP-RERA within 11 months. To date, the regulatory body has helped recover Rs 800 crore in 3,350 matters, either through RCs or settlement between homebuyers and promoters.”

“After the pandemic, district administrations picked up the pace and recovered the amount of the RCs. It sends reminders every month, within the first week, to district administrations for recovery. Promoters are coming forward to settle their recovery certificates to bring down their liabilities and complete the projects which are forecasting promising viability,” he added.

  • Published On Jun 9, 2023 at 08:38 AM IST

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