LUCKNOW: In what could arguably be called a remarkable achievement, the UP real estate regulatory authority (Rera) in the past 17 months has recovered Rs 674 crore from promoters and developers since Sanjay Bhoosreddy, a 1989 batch IAS officer, assumed its chairman’s office.
Prior to his tenure, the real estate regulatory authority had recovered merely Rs 558.5 crore since its establishment in May 2017. In aggregate, Rs 1,232 crore has been transferred into the bank accounts of 5,124 homebuyers who never received possession of their dream homes.
According to UP Rera, a total of 12,472 recovery certificates (RCs) worth Rs 3,778.69 crore have been issued, predominantly in the national capital region.
Speaking to TOI, Bhoosreddy said, “I did nothing extraordinary but adhered to fundamentals and utilised my experience of dealing with promoters and developers. The first thing I did was to streamline my predecessor system and ensure regular virtual meetings with district collectors and board of revenue officials to discuss the progress on RCs. We divided the region into western districts, smaller districts. On every 29th day of a month, an excel sheet shared with all officials concerned is updated to monitor recovery progress.”
“Secondly, our teams comprising development authority, SDM revenue, and bank officials started knocking on defaulting promoters’ doors during early morning hours. This proved embarrassing for defaulters, and they began settling their dues. However, some defaulters still attempted to deceive by changing their office addresses and replacing names of the company’s director, managing director and board of directors with their house maids and servants. We then utilised the corporate affairs portal to verify the details of developers and promoters to take legal action against them under Rera sections and company law board and issued RCs against the company’s top bosses,” said Bhoosreddy, who previously served in UP housing department and board of revenue.
Apart from recovering RCs additionally, UP Rera facilitated settlements in approximately 8,500 complaints worth Rs 3,311 crore involving both refunds and possession of units through conciliation forums established at Lucknow and Greater Noida.
Over 1,500 complaints valued at about Rs 600 crore have been amicably resolved through conciliation forums via mutual agreement between promoters and allottees.
Through the online portal for enforcement of UP Rera orders, 14,976 orders have been enforced against 15,772 execution applications.
In aggregate, UP Rera had received 56,130 consumer complaints, constituting about 39% of the total complaints filed nationwide. The authority has resolved 47,927 complaints, approximately 85.2% of the total complaints.
The top five districts in terms of consumer complaints are Gautam Buddha Nagar, Lucknow, Ghaziabad, Varanasi and Meerut.
Source Homevior.in
