Noida Projects: RERA’s strict stand on builders, action will be taken by making a list, this will be the plan

Noida Projects: RERA’s strict stand on builders, action will be taken by making a list, this will be the plan

Noida: RERA (Real Estate Regulatory Authority) has now taken a tough stand keeping in mind the interests of the buyers. After identifying the builders who cheated the buyers, RC has been issued against them. RERA has issued more than two thousand RCs against about two hundred and fifty builders and has ordered the district administration to attach their properties. Along with this, it has also been said that the buyers should come to RERA by forming their own association so that they can be handed over the project to the builders and they can complete it and start living in it."text-align: justify;">RERA lists incomplete projects

RERA made it clear that, unless the builders fulfill the orders given by RERA or complete their half-completed old projects, RERA will not give them permission for the new project. RERA made a list of those projects which are hanging in the balance or no heir of those projects has come before RERA yet. And this is the reason that after preparing their list, RERA has issued RC against them so that they can sell their properties and return the money of RERA buyers. 

RERA first identified those projects whose builder is either in jail or even after several notices of RERA, he has not come before RERA. After this, RERA also prepared a list of those projects which the builders are not able to complete or the builder has expressed his inability to complete the projects. RERA has prepared a list of all these projects and divided them into three categories. First those projects whose builder’s whereabouts are not known far and wide. Second, the project which started but is still half incomplete. The third project which has been completed but the finishing work is yet to be done. 

list submitted to district administration

RERA has identified those projects, whose builders are not known or the project which has started but not much construction has taken place in it. By selling the properties of such projects, RERA is preparing to return the money to the buyers. This is the reason, by issuing more than 2000 RCs against about 250 builders, the District Magistrate has been allowed to auction the lands. 

RERA wants to auction the builder’s property through e-auction so that maximum amount can be raised so that the buyers can benefit. For this he has also sought permission from the state government.

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