The UP government has taken major action against the builders arbitrarily from the buyers and not giving them flats on time. The Gautam Budh Nagar district administration has attached properties worth about Rs 500 crore of 32 builders against the RC dues issued by the Uttar Pradesh Real Estate Regulatory Authority (RERA). These include 162 flats, six plots, five shops and 28 villas. Properties of 50 other builders will also be attached in the next few days. For the first time under the scheme made at the government level, online auction of these confiscated properties will be started from next month.
The builders had promised to give possession of the flat, villa and shop to the buyers in two to three years. Thousands of buyers also paid by taking life-long deposits or loans from banks. Some builders did not start work on the project and some left midway. Builders are working on new projects with the money of the buyers. Buyers have been fighting a battle against this for a long time.
Several notices were issued to the builders, but to no avail. After taking a tough stand by the government, the administration became strict and confiscated the attached immovable properties of the builders. The administration has pasted confiscation notices on each and every property. Officials said that the churning was going on for a year at the government level for the online auction of the confiscated properties, which has almost been finalised. It is possible that the online auction of the seized properties will start next month.
Action on properties of these builders
Administration has announced Space, Caltech, Rudra, Buland, Morpheus, Mascot, Supertech, Logix, Sunward, Habitech, Gayatri, Newtech, Ajnara, Radicon, Diligent, Super City, Cosmos, Unibera, Investors, RG, Jaguar, Sikka, Jai Dev, Properties of Vocational Education Foundation, Myst Direct, Grand Venizia, Ultimate Infovision, Green View II, Green Way Infrastructure have been attached.
Vandita Srivastavas (ADM (Finance), Gautam Budh Nagar) says that thousands of buyers are fighting against the builders, because even after paying full money, they have to make rounds of the builder’s office for the flat. The action of the administration is welcome. Action has been taken against builders against the dues of Abhishek Kumar, NEFOVA Chairman RERA. Notices have been pasted on the seized properties. Action is on against other builders as well.
