4 days ago
- Business
- United News of India
UP RERA recovers Rs.1410 crores against 5700 recovery certificates
Lucknow/Gautam Budh Nagar, July 25 (UNI) Uttar Pradesh Real Estate Recovery Authority(RERA) has retrieved Rs 1410 crore for paying allottees in 5700 matters so far, officials claimed here today.
Between August, 2023, and July 15, 2025, the agency has retrived an amount of Rs.861 crores in 3053 matters. This indicates manifold increase in the recovery of the amounts payable to the allottees against the recovery certificates issued in lieu of orders passed on their complaints.
The agency recovered Rs.380 crore during 2023, Rs.463 crore during 2024 and Rs.251 crore so far in 2025.
The recovery in the corresponding period in 2024 was Rs. 244 crore.
In addition to the direct recoveries through the District Magistrates concerned, approximately 1650 recovery certificates have been settled mutually between the promoters and the allottees.
UP RERA has also ensured settlement in another 8500 matters having estimated value of Rs.3320 crores involving both matters of refund and possession of houses during the execution proceedings or through its conciliation forums established at Lucknow and Greater Noida.
In total, the claims of 15850 allottee-complainants amounting to Rs.5180 crore have been discharged or settled either through the recovery or through settlement between the promoters and the allottees or settlement between the parties during the enforcement proceedings before the RERA Benches or through conciliation before the Conciliation Forum.
Sanjay Bhoosreddy, Chairman, U.P. RERA said the increase in recoveries has been ensured through monthly reviews with the District Magistrates concerned and also by applying pressure upon the defaulting promoters. UNI MBD SSP
