In a move aimed at curbing the arbitrariness and dictatorship of builders in Noida, the district administration has taken strict action against defaulting builders to recover dues under the Real Estate Regulatory Authority (RERA).
Around 60 builders owe nearly Rs 2,600 crore to the Noida Authority. The district administration is taking concrete steps to recover this amount. Recovery certificates (RCs) are being issued against defaulting builders, and strict actions are being taken to recover the dues under RERA. This firm stance has caused panic among builders in Noida and Greater Noida.
The district administration has already issued RCs against builders and companies in Noida and Greater Noida that are not complying with orders from the Uttar Pradesh Real Estate Regulatory Authority (UP RERA).
Sub Divisional Magistrate (SDM) for Finance and Revenue, Atul Kumar, stated that RCs are being continuously issued because it involves people’s hard-earned money, and the administration is handling the matter strictly. In April, Rs 15.63 crore was recovered. The amount rose to Rs 46.05 crore in August.
In an exclusive conversation with Local 18, Atul Kumar said that a total of Rs 148 crore has been recovered in this financial year. Some builders are from Delhi or other districts. The District Magistrate is coordinating with the respective district officials for those recoveries.
The SDM said that letters are being sent, discussions are ongoing, and action is being taken against the defaulters. “We are hopeful that in the coming days, we will achieve even better results. The accounts of defaulting builders are being seized continuously,” he added.
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