Highlights:UP RERA begins cracking down on defaulting buildersNoida district administration has seized properties price Rs 315 crore of 32 builders ) has began tightening the noose on the defaulting builders. Noida district administration has hooked up properties price Rs 315 crore of 32 builders. Officials say that the seized property will probably be auctioned. The district administration has taken this motion for not following the directions of UP RERA. After this motion, there was a stir among the many builders of Noida and Greater Noida. The arbitrariness of builders in Noida-Greater Noida isn’t hidden from anybody. The builders have cheated the federal government together with the consumers. On one hand, the builders haven’t given flats to the consumers even after taking cash. At the identical time, many builders haven’t even paid the dues of the land bought from the district administration. DM Suhas LY instructed that on the idea of RC issued by UP RERA, restoration is being achieved from the defaulting builders. Under the marketing campaign, belongings price Rs 315 crore of 32 builders have been confiscated. The district administration has pasted confiscation notices on all of the properties. The technique of on-line public sale of the confiscated properties will probably be began quickly. The district administration has despatched a letter to the federal government on this regard. The public sale will probably be achieved on the directions of the federal government. ADM (Finance and Revenue) Vinita Srivastava mentioned that 162 flats, 5 retailers, 6 plots, and 28 luxurious villas have been seized. The on-line technique of auctioning the confiscated properties will probably be began within the month of July. The duty of estimating the true worth of the confiscated property has been entrusted to the Registry Department. Their value will probably be fastened on the idea of circle price. The district administration has pasted the seizure discover.
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