Tag: uprera

NOIDA: The developer and homebuyers will come together to complete 985 flats in a housing society that has hardly seen any development in the past decade.

The move follows an order by UP-Rera to allow the developer of Antriksh Sanskriti and the association of allottees to jointly complete the first phase of the project under its watch. Off NH-9 in Chhajarsi village, Sanskriti was launched in 2010 and was to have 1,600 flats across three phases.

The project, however, has been stalled since 2014, with 985 flats yet to be constructed in the first phase itself. While the registration of phase 1 lapsed in April 2019, those of phases 2 and 3 were revoked by the Ghaziabad Development Authority (GDA) in June last year over mounting dues.

According to a plan submitted to Rera during the hearing, Rs 227 crore may be used to complete the three phases of Sanskriti. A total of Rs 328 crore is expected to be raised from the project — a contribution of Rs 20 crore from the promoter upfront, Rs 67 crore receivables from existing allottees and Rs 241 crore from the sale of flats.

Rera has asked the developer, Antriksh Realtech, and Antriksh Sanskriti Welfare Association (the association of allottees) to complete the project by June 2025.

The regulatory authority has laid down a few strict conditions so that the project is completed in time. For instance, the association will have to enter into an agreement with the promoter and submit a copy to Rera within 15 days of the order. The association will also have to submit details of its office-bearers, the consent of at least 50% of the allottees and the complete project plan.

In terms of funds, the developer will have to deposit Rs 20 crore upfront in a separate account. Of that, Rs 9.2 crore will have to be paid to GDA and the remaining amount could be used to start construction.

A committee under UP-Rera chairperson T Venkatesh will monitor the progress of the project.

“Once the promoter clears the dues, GDA will allow the project to be developed. After that, we will have to get the layout sanctioned once again. If all goes according to the plan, we hope to start construction by the middle of August,” said Jiten Kumar Dalai, the president of the association.

It was in 2017 that the buyers moved Rera regarding the delay in handing over flats. Last year, the association submitted a plan to complete the remaining flats. Rera then considered the proposal for the buyers and Antriksh Realtech to jointly construct the project.

Rakesh Yadav, the director of Antriksh Realtech, said the project was still viable and they would complete the work within the time frame. “Altogether, 1,600 flats are supposed to be built across three phases, with 985 in the first one,” he added.

RD Paliwal, conciliation consultant at Rera, said, “The project is moving in the right direction with collaborative approach of all stakeholders. The parties should abide by their commitments to complete the project in time.”Rera chief Venkatesh said Sanskriti was the 17th such project in the state where the developer and buyers had come together to complete it. “We are examining the possibility of facilitating the completion of more such projects.”

Source: https://timesofindia.indiatimes.com/city/noida/builder-buyers-to-finish-project-stuck-since-2014-/articleshow/101586264.cms

The Uttar Pradesh Real Estate Regulatory Authority (UPRERA) has issued nearly 8,800 recovery certificates (RCs), collectively amounting to around Rs 2,400 crore since 2018.

Out of this, RCs worth about Rs 1,200 crore have been resolved through recovery and settlement, the Authority data showed.

A recovery Certificate is a request letter from the RERA Authority addressed to the concerned district collector requesting to recover the specified amount from the defaulting builder as arrears of land revenue under the Revenue Code and to pay the amount to the entitled complainant allottee.

According to data provided by the UPRERA, as many as 2,500 RCs worth over Rs 800 crore were issued by the Authority in the financial year 2022-23 alone. In the financial year 2022-23, Rs 394.26 crore has been collected by the Gautam Budh Nagar district administration against RCs issued across the state and Rs 353.37 crore has been transferred to the allottees.

These statistics were released at the 125th meeting of UPRERA, held in Lucknow recently under the chairmanship of Authority’s Chairman Rajive Kumar. The meeting also marked Kumar’s last day as UPRERA Chairman.

“Overall recovery certificates worth about Rs 1,200 crore have been resolved by the administration through recovery and mutual consent and this is the highest among all RERA institutions (across the country). A quick jump has been noticed in the recovery of RCs after Covid-19 and FY 2022-23 has contributed approximately 33 percent (of the recovered amount) since 2018,” the Authority noted.

Gautam Budh Nagar leads the data also showed that as many as 3,400 projects have been registered with the real estate regulator across the state with Gautam Budh Nagar leading the chart. Gautam Budh Nagar district has a maximum of 945 projects registered with the UPRERA followed by Lucknow with 702 projects and Ghaziabad with 418.

Set up in May 2017, the UPRERA is tasked with protecting the interests of homebuyers, bringing in transparency and ensuring speedy resolution of disputes between homebuyers and developers.

The Authority said it has successfully disposed of 88 percent of the total around 49,000 complaints across the state. UPRERA alone has disposed of almost 43,000 complaints across the state. Approximately 1.07 lakh complaints have been received by RERA authorities in India since 2017, it stated.

Gautam Budh Nagar topped the list of top 10 districts in complaints disposal across the state with the redressal of 25,803 complaints. It was followed by Lucknow with the disposal of 8,504 complaints and Ghaziabad with the settlement of 5,750 complaints.

The Authority also said that properties worth about Rs 485 crore have been made dispute-free by resolving more than 1,200 cases through the conciliation forum since 2018.

Source: https://www.moneycontrol.com/news/business/real-estate/up-real-estate-regulator-issued-8800-recovery-certificates-worth-about-rs-2400-crore-since-2018-10885851.html

The Uttar Pradesh Real Estate Regulatory Authority (UPRERA) has appointed Cushman & Wakefield to help resolve issues of dues owed by developers and revival of stalled projects in Noida and Greater Noida.

Builders in the state owe an estimated Rs 40,000 crore to the Noida and Greater Noida authorities and the Yamuna Expressway Industrial Development Authority in the form of premium, interest, and penal interest against plots allotted for real estate projects. Thousands of homebuyers in Noida and Greater Noida have been unable to register their homes because the builders have not paid their dues.

UPRERA chairman Rajive Kumar said that the consultant will carry out an in-depth analysis of the projects in Noida and Greater Noida and come up with possible solutions so that homebuyers can get their houses expeditiously. He said the consultant will submit its report this month, after which UPRERA, in consultation with the state government, would take a decision on the matter.

Non-payment of dues by builders is one of the driving forces behind disputed projects in Noida and Greater Noida. So, both the issues are interlinked and ultimately homebuyers are suffering. This is UPRERA’s initiative to end this logjam.

An UPRERA official said the consultant has sought representation from the Confederation of Real Estate Developers’ Association of India (CREDAI) and the National Real Estate Development Council (NAREDCO) over the issue of clearing pending dues. He said UPRERA officials are likely to meet representatives of developer bodies and officials of the Noida and Greater Noida authorities.

Source: https://www.rprealtyplus.com/news-views/up-rera-appoints-cushman-wakefield-as-consultant-110179.html

Uttar Pradesh RERA has achieved 88 per cent success in solving the grievances of the people since its inception in 2017. From May 1, 2017 to December 2022, more than 47,000 complaints were registered and about 42,000 complaints have been disposed of. Thus, a total of 88.14 per cent grievances of consumers have been successfully redressed.

Besides, about 12,800 requests of order execution have been received in which compliance of final order was successfully executed 9,900 requests, which is about 77 per cent. This was disclosed in a press statement issued by the RERA here on Friday.

In 2021, about 8,600 complaints were registered and about 8,400 were disposed of. In 2020, about 8890 complaints were registered and about 8670 complaints were disposed of. In 2019, about 12600 complaints were registered and about 12800 were disposed off.

Similarly, in the year 2018, about 8,300 complaints were registered and disposal was done in about 2,500 cases. However, only about 110 complaints were disposed of against 1,650 registered in 2017.

The highest numbers of complaints have been registered against 46,400 promoters, while about 500 complaints have been registered against allottees and about 200 complaints against agents.

As many as 35,900 complaints have been registered in eight districts of NCR, almost 76 per cent of total complaints, and 31,800 have been successfully disposed of.

Gautam Buddha Nagar in NCR and Lucknow district in non-NCR are at the first and second positions respectively with 28,450 and 8,600 complaints, followed by Ghaziabad (6,470), Varanasi (850) and Meerut (800).

Source: https://www.thestatesman.com/india/up-rera-addresses-88-pc-complaints-1503150452.html

The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) received 36 applications to register new residential and commercial realty projects in the month of September. The authority said that it is the highest number of applications received in a month since the formation of UP RERA in April 2017. It received 125 applications to register new projects in the first half of 2022.

According to the rules, a developer is required to register any new project with the authority and obtain a registration number before beginning construction work. RERA registers a project only if the developer gets the project map sanctioned by local authorities.

A number of these new realty projects are coming up in cities outside the national capital region. Earlier, 70% of new projects were from Noida, Greater Noida, Ghaziabad and Meerut, and the remaining 30% were from non-NCR cities like Lucknow, Kanpur, and Agra, RERA informed. “In September, 70% of new applications were from non-NCR towns and 30% from NCR towns,” Rajive Kumar chairman, UP RERA, said.

Out of 36 applications received in September this year, 24 were from non-NCR towns such as Lucknow, Agra, and Muradabad and the remaining from NCR towns including Noida, Meerut and Ghaziabad. The total cost of these residential and commercial projects is ₹3,648.35 crore and RERA has sanctioned 6931 residential and 1185 commercial units.

Source: https://www.hindustantimes.com/cities/noida-news/uprera-approves-36-new-realty-projects-in-september-101665772550059.html

The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has imposed penalty of Rs 1 crore 39 lakhs against 13 promoters after reviewing the status of compliance of its orders by the promoters.

The authority is making constant efforts to ensure enforcement of its orders and provide speedy justice to the aggrieved allottees. The action of penalty against the guilty promoters is an important step towards compelling them to comply with the orders of the authority.

The Authority, using its powers under section 38/63 of the RERA Act which empowers it to penalise the non-compliant promoters with up to 5% of the cost of the project, decided to impose penalty against

SRB Promoters Pvt. Ltd., Gardenia India Promoters Pvt. Ltd, AIMS Golf Town Developers Pvt. Ltd, MV Infrastructures and Housing Pvt. Ltd, Elegant Infracon Pvt. Ltd, Redicon Infrastructures Pvt. Ltd, Decent Buildwell Pvt. Ltd, Uttam Steel and Associate (Consortium), JSS Buildcon Pvt. Ltd, Earthcon Construction Pvt. Ltd, Opulent Infradevelopers Pvt. Ltd, Aura Buildwell Pvt. Ltd and Green Bay Infrastructures Pvt. Ltd.

The authority further directed the promoters to submit the compliance report of its orders within 15 days and deposit the amount of penalty within 30 days, otherwise the amount of penalty shall be recovered as arrears of land revenue.

“Uttar Pradesh RERA is continuously taking strict decisions against the insensitive promoters for protection of the interests of the home buyers. The Authority is fully committed to protect the interests of home buyers and, for this, the Authority is taking all possible steps to regulate the real estate sector of the state according to the RERA Act,” said Rajive Kumar, Chairman, UP RERA.

Source: https://economictimes.indiatimes.com/industry/services/property-/-cstruction/up-rera-imposes-penalty-against-13-developers/articleshow/94398656.cms

The UP Real Estate Regulatory Authority (UP-Rera) this week cancelled the registrations of three real estate projects in Pratap Nagar area of the city after it found that the builder was unlikely to complete the construction in the stipulated time and had not followed some other norms.

About 1120 flats in 1504 housing units across the three projects — Antriksh Sanskriti Phase-2, Antriksh Sanskriti Phase-3 and Raksha Vigyaan Sanskriti Phase-2 — had been booked so far.

The Authority took the decision after complaints by several homebuyers, who alleged a delay in construction and said the builder had failed to deliver their houses despite several extensions in deadline.

“Under the powers of the UP-Rera Act, the builder has been declared a defaulter and this has been conveyed to Rera offices of other states and Union territories,” an Authority official said on Wednesday.

“It has been decided by the Authority to freeze the bank accounts linked to the projects to block any transactions. The builder’s access to the UP-Rera website has also been restricted,” the official added.

The Authority has now created a project advisory and monitoring committee – comprising officials of UP-Rera and the Ghaziabad Development Authority (GDA) — to complete the construction.

“The committee will work on a plan to complete the unfinished projects in the larger interest of homebuyers” the official cited above said.

Work on the three projects began in 2015, and was to be completed by July 2022 (both Antriksh Sanskriti projects) and June 2023 (Raksha Vigyaan Sanskriti). “But an onsite inspection found that the builder, under no circumstances, would be able to complete the remaining construction and development work,” the official added. Construction work had been completed around 30-40% in the Antriksh projects and it hadn’t even begun in the third project.

For Raksha Vigyaan Sanskriti Phase-2 project, land was provided to the developer to build the flats; of these, 32% are to be owned by a cooperative society, according to a homebuyer.

Other homebuyers said the builder had promised to deliver the flats years ago. “I had booked a 2BHK but the builder failed to hand it over and kept extending the deadline. It’s now that the UP-Rera has taken action against the builder,” said Sandeep Singh.

Source: https://timesofindia.indiatimes.com/city/ghaziabad/up-rera-cancels-registration-of-3-ghaziabad-projects/articleshow/92400117.cms

The Real Estate Regulator Authority (Rera) in the state has stepped in to help 600-odd buyers of a housing project left abandoned by the developer in Noida Sector 143.

Launched in 2012, flats in Festival City were supposed to have been delivered by 2015. But the developer — M/s Mist Direct Sales Pvt Ltd — defaulted on the deadline and then stopped construction altogether. The buyers approached the UP-Rera, which sent notices to the developer. When it failed to respond, the regulatory authority blacklisted the developer and de-recognised the project. “Our next step was to take the consent of all the buyers and get the project completed. Two groups of buyers under Mist Avenue Buyers’ Association and Festival City Welfare Association showed interest in reviving the project,” said a Rera official.

The official quoted a provision from the Rera Act, which allows the regulatory authority to take the consent of the buyers and find another developer to complete a project.

But it’s a long way ahead for Rera in this case. The regulatory authority and the association of buyers are now faced with the challenge of collating the details of all the allottees who had booked a flat in the project and the total amount deposited by them. “The developer was not keen on sharing the information. Now that they have been blacklisted, we assume they might have gone underground,” the Rera official said.

The project has 1,600 units in total and Rera needs to have the consent of each and every one before going ahead with getting a developer to finish the flats. “Our efforts to get the details of the allottees from the Noida Authority proved futile. We have the consent of around 300 buyers, who are members of the two associations. But we need to track down the others and have their consent as well,” said Ravindra Sharma, president of the Mist Avenue Buyers’ Association.

Rera has now created a link on its official website where an allottee can upload documents to prove ownership of a flat. Once the data on the total number of buyers is collated, the Noida Authority will calculate the funds collected from the buyers and the estimated amount that can be raised from the unsold units. Rera will then hire a consultant to prepare a detailed project report. A developer will then be selected for the remaining project. “Only a DPR will give clarity on the money that will be required to complete the project and the amount that can be raised from the allottees and the sale of the remaining units. The new developer will have to complete the flats in a time-bound manner and Rera will oversee the project,” said Sharma.

Prashant Kanha, a Supreme Court lawyer who handles builder-buyer cases, said, “Section 8 of the Rera Act gives it powers that are seldom exercised. In this case, it is a novel exercise where the provisions are being used in the interest of the buyers.”

Spread across 25 acres off the Noida Expressway, Festival City was to be developed in three phases. “In the first phase, three towers of 35 storeys each were to be developed. But so far, only one tower has been developed. With the UP-Rera taking the initiative now, we are hopeful that the project will be completed in a timely manner,” Sharma said.

Source: https://timesofindia.indiatimes.com/city/ghaziabad/rera-steps-in-to-complete-an-abandoned-project-in-sec-143/articleshow/91243595.cms

Sending out a strong message to the developers who are yet to comply with its earlier orders, the Uttar Pradesh Real Estate Regulatory Authority (UP-Rera) has imposed a penalty of Rs 1.08 crore on seven developers.

All the seven builders have failed to deliver the units to their buyers within the stipulated deadlines. While four have projects in Noida, two are from Ghaziabad and one is based in Meerut.

TOI has learnt that UP-Rera chairman, along with the secretary and its three members, held a meeting on January 24 to review the status of its orders. At the meeting, they noticed that some developers, despite seeking additional time from the regulator to fulfil the obligations, failed to comply with the directions.

The buyers, meanwhile, kept filing their appeals before the Authority to get the due payment and allotment.

Invoking the Rera Act, the regulator slapped the highest penalty of Rs 35.41 lakh on Gardenia India Limited.

During an inspection in October last year at Rera’s behest, a team of experts visited the Gardenia Gateway project in Sector 75 that was to be completed in two phases. However, several anomalies were detected during the survey of the project and many amenities promised to the buyers remained incomplete.

Similarly from Ghaziabad, Sarvottam Realcon Pvt Ltd was asked to pay up Rs 27.08 lakh while Ansal Urban Condominiums has to deposit Rs 3.09 lakh.

Alpha Corp Development Pvt Ltd, which is developing a project on the Meerut-Muzaffarnagar highway has been asked to pay Rs 8.75 lakh.

In case the developers fail to deposit the penalty amount within 15 days, officials said, the regulator could issue recovery certificates against them and ask the local administration to attach their properties to recover the money.

In another development, the regulator has extended the deadline for developers to file the quarterly progress report of their projects by two months.

“They will now get time till February 28 to upload details on our portals,” said a Rera official.

Source: https://timesofindia.indiatimes.com/city/noida/rera-fines-7-developers-over-1-crore-for-not-handing-over-flats-within-deadline/articleshow/89167236.cms

The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has appointed Delhi-based consultancy company, REPL (Rudrabhishek Enterprises Ltd.) as third party consultant to monitor physical and financial progress of three stuck projects in Greater Noida.

These projects were stuck and construction was resumed after the intervention of UP RERA who brought developers and homebuyers together to complete the project.

These include Casa Grande 2 of Earthcon Construction Pvt. Ltd; La Palacia of Newtech La Palacial Pvt Ltd; and Unibera Towers of Unibera Developers Pvt Ltd. Total number of units in these projects are 1925 and the estimated cost of completion will be approximately Rs 225.11 crore.

“Many projects are feasible but were stuck due to lack of funding. In some cases, both promoter and buyers approached us for solution. We have restarted construction of such project by forming a monitoring committee,” said Rajive Kumar, Chairman of UP RERA.

REPL will monitor the construction of remaining development work and report to authority as per overall project implementation plan.

“REPL has extensive experience of providing consultancy in real estate sector including its complete project life-cycle. We have similar assignments running on projects of various other developers by providing technical consultancy and PMC assistance,” said CMD of REPL, Pradeep Misra.

REPL will work with all the stakeholders, including the authority and flat owner associations.

“Our priority is to develop and implement proper monitoring & supervision mechanism for time-bound completion of remaining construction works on these projects,” Misra said.

According to Confederation of Real Estate Developers’ Associations of India (CREDAI), around 190,000 units amounting to a valuation of Rs 1 lakhcrore are stuck in Noida, Greater Noida and Ghaziabad.

In Greater Noida alone, at least 36 realty projects are facing insolvency proceedings.

This has impacted around 50,000 home buyers and blocked about Rs 7,000 crore worth of authority dues.

“REPL will review the tendering process, physical performance, and timelines. REPL will also review the fund utilization, and construction quality. Timely delivery of the assignment will bring relief for many people who were worried about their committed investments. We have already started mobilizing special teams on the project and expect to see the things rolling out on ground very soon,” said Satish Sehta (VP- Building Services, REPL).

REPL has been working as consultants for Real Estate projects across the country, including large scale residential townships, group housing, Hi-tech cities and commercial complexes. It is also involved in multiple smart cities, urban infrastructure, planning, GIS, metro, highways and water supply schemes. From UP RERA, it has deployed on similar projects of other builders which have got held-up in middle due to various reasons.

Source: https://economictimes.indiatimes.com/industry/services/property-/-cstruction/up-rera-appoints-repl-to-monitor-construction-of-three-stuck-projects-in-greater-noida/articleshow/88388977.cms