UP RERA issues recovery certificates amounting to Rs 1,761.88 cr in four years, collects Rs 344.62 cr

These statistics were released at the 100th meeting of UPRERA held in Lucknow recently under the chairmanship of Rajive Kumar, chairman, UPRERA.

The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has issued 5,625 recovery certificates, collectively amounting to Rs 1,761.88 crore against the orders of refund and collected Rs 344.62 cr in 2,699 matters so far and transferred it to concerned allottees.

These statistics were released at the 100th meeting of UP RERA, held in Lucknow recently under the chairmanship of the body's Chairman Rajive Kumar. The meeting coincided with the completion of four years of the regulatory authority.

"So far, an amount of Rs 344.62 cr, collected in 2699 matters, has been transferred to the concerned allottees and in 1324 matters, having a collective monetary value of Rs 448 cr, the parties have either entered into settlement during enforcement proceedings before RERA Benches or the promoters and the complainants settled the demands through mutual settlements. Thus demand worth Rs 792.62 cr in 4023 out of 7377 matters has been discharged either through the recovery of money or through a settlement between the parties. This is about 54.5 per cent of the refund execution requests received in the authority," said the UP RERA in a statement.

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The authority also said that wherever the orders of UP RERA have not complied within time, the complainant filed online applications for execution of the order. "Out of the total orders of the Authority, 22,890 orders required compliance from the promoters, against which 12,228 complainants have filed online requests for execution of orders. Out of these execution requests, 7,377 requests are for execution of orders of refund and 4,290 requests for those of possession," it said.

The UP RERA received 44,555 consumer complaints, which are about 38 percent of the total complaints filed across the country, it said. UP RERA has decided on 39,709 of these complaints, which are about 40 percent of the complaints decided in the country as a whole.

It informed that the Authority has ensured compliance through enforcement of 3,129 out of 4,721 orders of possession cum payment of delay interest which is about 66 percent of such orders. As many as 1311 complaints were finally resolved by the Benches of RERA through a settlement between the parties during the hearing itself, it said.

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There are 2,056 ongoing and 1,211 new projects registered in RERA. Out of 2,056 ongoing projects, 1,069 projects (52 percent) are in eight districts of NCR - mainly in Gautam Buddh Nagar, Ghaziabad, Meerut and Hapur. Out of 987 (48 percent) ongoing projects in 67 districts of Non-NCR, 399 projects (19.4 percent) are in Lucknow. Out of 1,211 new projects, 452 projects (37 percent) are in NCR and 759 projects (63 percent) are in Non-NCR. Whereas the share of NCR in ongoing projects is 52.5 percent, in new projects it is 37.5 percent only.

"Of late, the real estate sector is gaining momentum outside the NCR as can be seen registration of 139 new projects in Non-NCR, mainly in Lucknow, Varanasi and Gorakhpur, compared to 74 projects in NCR during last one year," it said.

Out of 2,056 registered ongoing projects, 1300 projects (64.70 percent) projects have been completed.

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It said that the registration of 73 projects of 31 defaulting promoters has been revoked under section 7 of RERA in the last four years, while a penalty of over Rs 40 crore has been imposed against 19 promoters/real estate agents for the promotion and marketing of projects without registration or in violation of the RERA.

"Penalty of over Rs 18.20 crore has been imposed upon the promoters for non-filing of quarterly progress reports of the projects on the website of the Authority under section 61 of RERA Act. A penalty of over Rs 20 crore has been imposed upon 71 promoters under section 63 of the RERA Act for violation of the orders of the Authority," it said.