UPRERA Directs Ghaziabad Promoter to Restore Allotment and Deliver Home within 45 Days

    Date:

    Share post:

    GHAZIABAD, Uttar Pradesh – In a recent development, the Uttar Pradesh Real Estate Regulatory Authority (UPRERA) has issued a directive to the promoter of a housing project in Siddharth Vihar, Ghaziabad. The order mandates the restoration of the allotment of a previously cancelled unit to the allottee, Saurabh Gupta, and the delivery of the property, accompanied by an occupancy certificate (OC) and completion certificate (CC), within a 45-day timeframe.

    Gupta had initially booked a unit in the T Homes-Phase 1 project back in 2019. According to the sale agreement, he had paid nearly 100 percent of the total unit cost, amounting to Rs 57.95 lakh, with the expected handover date set for March 2022. However, the promoter, T and T Infrazone Pvt. Ltd, imposed an additional condition for the property handover, demanding approximately Rs 7 lakh in interest from Gupta, despite incomplete construction. When Gupta failed to comply with this demand, the promoter cancelled the allotment, as confirmed by UPRERA in a statement released on September 15.

    Expressing his discontent over the delayed possession and allotment cancellation, Gupta filed a complaint against the promoter before UPRERA in 2022. In response, UPRERA issued a ruling, instructing the promoter to promptly reinstate the allotment of the cancelled unit, prepare the unit for handover along with OC/CC within the next 45 days, and deliver possession to Gupta. Additionally, the promoter has been directed to compensate Gupta for the delay by paying interest calculated at the Marginal Cost of Funds-Based Lending Rate (MCLR) plus 1 percent, covering the period from April 2022 until the receipt of the OC or CC.

    As of now, there has been no immediate response from the promoter regarding this development.

    Also read: Builders Beware: Greater Noida to Revoke Allotments for Non-Performing Projects

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Related Posts

    Latest posts

    Southern India Dominates Senior Living Housing Segment with 62% Share

    According to a recent report by CBRE titled ‘Golden opportunities from the silver economy – analyzing the future...

    Rajasthan Pitches Bhiwadi Industrial Town as Ideal Location for Tesla’s India Entry

    With Tesla, the US-based electric vehicle (EV) giant, eyeing India for its expansion, Rajasthan has emerged as a...

    Assetz Property Further Strengthens Its Presence with Luxury Plotted Development Off Hosa Road

    Assetz Property Group, one of Bengaluru’s leading real estate developers, in collaboration with Inspira Builders, has  announced the...

    Pune Real Estate Sees Surge in Property Registrations: Insights and Trends

    The Pune real estate market witnessed a remarkable 52 percent year-on-year increase in property registrations in March 2024,...