2 more realtors get recovery certificates from UPRERA

LUCKNOW: The UP Real Estate Development Authority (UPRERA) issued recovery certificates against two more realtors on Friday including one belonging to Lucknow after they failed to comply with its orders to refund home-buyers money within the stipulated deadline.

The regulator had issued five recovery challans against builders in Gautam Buddh Nagar and Ghaziabad earlier but for the first time action has been initiated against a developer in Lucknow.

In a communique to district magistrate, Lucknow, Abrar Ahmed, secretary UPRERA has sought recovery of Rs 38.97 lakh from Ansal API, which is developing a hi-tech township on Sultanpur Road for failing to comply with its orders on a complaint of an allottee.

The complainant Arshi Parveen,

a resident of Lucknow, had booked a plot with the developer in 2011 and deposited Rs 25 lakhs (95% cost of the plot). But after Ansal API failed to give her possession of the plot within the stipulated time-frame, she approached UPRERA, which directed the developer (Ansal) to either provide the plot or refund her money with 8.35% interest on the deposited amount by February 21, 2018. But the developer did not comply.

A similar recovery notice has been sent to district magistrate, Gautam Buddh Nagar to realise Rs 26.79 lakh from Ms Greenbay Developers on a complaint of home-buyer Pravin Kumar Gambhir.

Section 40 of the Real Estate (Regulation &) 2016, says that a buyer can demand issuance of an RC in case a builder refuses to refund his/her money.

Issuance of an RC means the developers would first receive a notice demanding the money, after which he could be sent to jail.

In the third stage, assets of the offender could be frozen and they could be sold to recover the dues in the fourth stage.

The regulatory body, which was set up in May last year, had earlier issued similar RCs against five developers. But none of the realtors have complied so far.