28.Nov.2022
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The authorities of greater Noida recently closed the residential project of realty firm Rudra build well in sector 16c due to failure to refund Rs. 25 crore to the homebuyers despite many notices.
On Wednesday, the district administration removed the workers and employees from the aqua casa residential project site before sealing.
Alok Kumar Gupta, the magistrate of Dabri’s sub-divisional magistrate, said that many buyers in this project had approached the UP-RERA and asked for a refund due to the delay in getting possession of their flats.
To refund homebuyers, the regulatory asked the district administration to recover the money from the project developer. And after many notices, the office got sealed as the amount still needed to be refunded.
The SDM clarified that they would not cease auctioning the developer's property.
Approximately 332 sealed properties were listed for online auction in the September of 2019; to improve the recovery rate, the e-auction route was mooted by UP-RERA.
Then BN Singh(District magistrate), in January 2020, emphasized and gave a detailed note to the state government on the requirement to implement the e-auction process.
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