Rera to name and shame builders who flouted orders

Noida: The Uttar Pradesh-Real Estate Regulatory Authority (UP-Rera) has decided to name and shame real estate developers who are defaulters and have failed to comply with the orders of the regulator.
Apart from their names, Rera will upload their compliance reports on its website, officials said. “We are taking the compliance issue seriously and the status of compliances of our orders by developers will be uploaded on the website under the category ‘View Compliance Status’,” UP-Rera secretary Abrar Ahmad said.
The decision comes in the wake of a week-long meeting between UP-Rera and realtors of Noida and Greater Noida.
The regulator has already demanded that the defaulter builders disclose all assets that can be liquidated through auctions to settle almost 2,000 recovery certificates currently pending with district authorities.
“All the compliance reports by builders who have violated UP-Rera orders should be furnished within a week,” Ahmad said in a release.
UP-Rera member Balvinder Kumar had earlier said buyers could seek refunds immediately after a developer fails to handover flats on time. He was the one who had held virtual meetings with 22 builders.
Supertech tops the list of UP-Rera defaulters, with over 800 cases of non-compliance.
Supertech chairman RK Arora said, “Of the total 864 complaints, the company has settled 334 since the unlock period by providing alternative flats or compensation. We will settle the remaining 530 in the next six months. Work has suffered because of Covid, but it would be taken care of in the coming months.”