UP-RERA expresses strong displeasure against PDA

28 May 2024 CW Team

In order to ensure the registry and possession in favour of the allotees, Sanjay Bhoosreddy, chairman of the Uttar Pradesh Real Estate Regulatory Authority (UP-RERA), referred all nine matters to the court of the RERA Adjudicating Officer. He expressed strong displeasure with the PDA's delaying tactics. While hearing nine of the Alaknanda project's allottees' complaints for the execution of orders issued in March 2023, Bhoosreddy noted that the promoter had gotten the completion certificate in January 2024. These allottees received a relief of possession with interest for the delay in March 2023 from RERA. Even after being given ample time to comply with the RERA's requirements, the promoter chose not to execute the sale deeds in the names of these allottees. Additionally, he gave the go-ahead to issue recovery certificates for the payment of interest for the delay starting in 2016 at the rate of SBI MCLR+1 percent. Because the development authority in question is financially harmed, the financial responsibilities only grow over time. He anticipated that the planning authorities would act quickly to complete registrations and give the allottees possession.

Infrastructure Urban

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