Shopping cart

    Subtotal 0.00

    View cartCheckout

    Magazines cover a wide array subjects, including but not limited to fashion, lifestyle, health, politics, business, Entertainment, sports, science,

    Shopping cart

      Subtotal 0.00

      View cartCheckout

      Magazines cover a wide array subjects, including but not limited to fashion, lifestyle, health, politics, business, Entertainment, sports, science,

      • Home
      • News
      • UP RERA secures ₹2,040-crore relief for homebuyers through recoveries and settlements
      News

      UP RERA secures ₹2,040-crore relief for homebuyers through recoveries and settlements

      UP RERA
      Email :18

      The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has delivered substantial relief to homebuyers, ensuring payments of ₹2,040 crore through a combination of strict legal enforcement and mutual settlements up to 2025. By issuing Recovery Certificates against defaulting promoters while actively promoting conciliation and voluntary compliance, the regulator has resolved thousands of long-pending disputes related to refunds, delayed possession and interest claims.

      A large number of complaints were filed before UP RERA benches under Section 31, relating to refunds, possession with registry, and interest due to delay in possession. After hearings, the benches passed orders in favour of the allottees and Recovery Certificates (RCs) were issued against the defaulter promoters. Based on these RCs, the concerned District Magistrates recovered the payable amounts.

      Out of 6,018 Recovery Certificates, a total amount of ₹1,505 crores was legally recovered from promoters, and the recovered funds were electronically transferred directly into the bank accounts of the allottees.

      In addition, in 1,734 Recovery Certificate cases, promoters paid ₹535 crores to allottees after mutual settlements were reached between both parties following the issuance of RCs, thereby resolving disputes before coercive recovery became necessary. Thus, in a total of 7,752 cases, UP RERA ensured payment of ₹2,040 crores to allottees.

      Effective and Complete Resolution of Property Disputes Through Mutual Settlements

      Along with recovery actions, UP RERA adopted mutual conciliation and settlement mechanisms to ensure the speedy, simple, and permanent resolution of disputes related to refunds, possession, and other homebuyer grievances.

      In many cases, during hearings, promoters and allottees reached mutual agreements. The settlement deeds were uploaded on the RERA portal, and the benches disposed of the cases on the basis of these agreements, providing allottees relief from prolonged legal proceedings.

      Through this process, disputes involving 3,073 allottees and properties worth ₹1,872 crores were resolved.

      Dispute Resolution Through the Conciliation Forum

      The Conciliation Forum established by UP RERA has emerged as a highly effective dispute-resolution platform. It enables allottees and promoters to resolve disputes through dialogue, without getting trapped in lengthy judicial processes.

      Proceedings are conducted in the presence of:

      ·      Affected allottees

      ·      Concerned promoters

      ·      Representatives of allottees association

      ·      Representatives of promoters association

      ·      RERA conciliator

      The conciliator facilitate balanced dialogue, clarify legal rights and obligations, and guide both parties toward mutually acceptable solutions.

      Through this structured process, disputes involving 1,617 allottees and properties worth ₹648 crores were resolved, saving both sides from long, expensive, and time-consuming litigation.

      Voluntary Settlements in Compliance with RERA Orders

      In many cases, promoters voluntarily complied with RERA orders by entering into settlements with allottees, eliminating the need for separate execution proceedings. These settlements were uploaded on the RERA portal and resulted in the resolution of 6,610 cases involving properties worth ₹3,400 crores.

      Overall Impact

      Through a combination of legal enforcement, conciliation mechanisms, and mutual settlements, UP RERA successfully resolved 11,300 cases, involving properties worth ₹5,920 crores.

      This reflected UP RERA balanced approach strict legal action where required and constructive dialogue where possible to deliver swift, effective, and fair justice to homebuyers.

      Chairman of UP RERA, Sanjay Bhoosreddy stated that the primary objective of RERA is to provide timely justice to homebuyers and to establish transparency and discipline in the real estate sector.

      He said: “UP RERA is committed to protecting the rights of allottees at every level. Wherever promoters delayed possession and payments unjustifiably, strict legal action was taken—Recovery Certificates were issued, and the recovered amounts were directly transferred into the allottees bank accounts. At the same time, wherever settlement was possible, disputes were resolved through dialogue and mutual consent.”

      He further added that RERA’s approach is not only punitive but also solution-oriented, ensuring quick resolution of disputes and relief to homebuyers from unnecessary mental and financial stress.

      Related Tags:
      0 0 votes
      Article Rating
      Subscribe
      Notify of
      guest
      0 Comments
      Oldest
      Newest Most Voted
      Inline Feedbacks
      View all comments

      Related Posts

      Join

      To Receive Daily Updates

      0
      Would love your thoughts, please comment.x
      ()
      x