Nearly 77% realization of recovery certificates issued by UP-RERA in Ghaziabad, – Homevior

GHAZIABAD: Nearly 77% of the recovery certificates issued by the real estate authority to the erring developers have been recovered, marking the city’s lowest pendency rate in the realisation of recovery challans (RCs) issued by UP Rera.

According to data from the board of revenue, Ghaziabad has a 23% pendency rate, while GB Nagar has 72% and Varanasi has 94%.

The RCs are issued by UP Rera, and compliance is ensured by the administration of the respective districts.

“Over the years, 699 RCs against the developers were issued by the regulatory authority, UP Rera, which in turn were sent to us for executing the orders. We realised 699 RCs worth Rs 204.47 crore over the years. The pending RCs are 365, worth Rs 94.31 crore, which is just 22.93%, compared to GB Nagar, which has a pendency rate of 72.21%, and 94.05% in Varanasi,” said an official from the district magistrate.

GB Nagar tops the list in the state in terms of the number of RCs and the amount recovered. In GB Nagar, 1226 RCs worth Rs 405.03 crore have been recovered, and it is the highest in the state, with Ghaziabad in the second spot.

However, the data shows that the pendency ratio of GB Nagar has 4071 RCs worth Rs 1512.9 crore pending, which can be attributed to the number of cases that come to UP Rera, with GB Nagar accounting for the most cases filed with the regulatory authority.

“In Ghaziabad, projects compared to GB Nagar are fewer, and so are the cases filed with UP Rera. But the fact remains that Ghaziabad’s record in helping home buyers realise the highest percentage of RCs is the best in the state. From next year, efforts will be made to ensure that the pendency rate is further brought down,” said the official.

When asked about the practical problems the administration faces when executing RC orders, the official said, “In many cases, the official address of developers is in other districts or even states, even though the project is being executed in Ghaziabad, and the local administration is not within its rights to execute orders. At best, we can refer the case to the respective district administration, and it takes a lot of time.”

Meanwhile, Lucknow has so far realised only 423 RCs worth Rs 88.74 crore, while 600 RCs worth Rs 88.65 crore are pending with the administration.