As RERA’s recovery orders remain pending, homebuyers say regulator is toothless

3 months ago 2

Homebuyers have alleged that the Real Estate Regulatory Authority (RERA) is turning out to be toothless as recovery orders given by it remain pending.

According to the rules of RERA, the order for recovery of money from the builder is to be executed by the district administration. (File photo: Reuters)

The Real Estate Regulatory Authority (RERA) is turning out to be toothless as out of recovery orders worth Rs 1,071 crore, only Rs 102 crore has been recovered from defaulting builders up till last month. Since the regulator has no execution power, it relies on the district administrations to recover the money from the builders and hand it over to the home buyer.

However, this deflates the idea of a dedicated single window system of regulation for the duped home buyers, awaiting possession of their flats for more than a decade. Over one lakh homebuyers are still awaiting possession of their flats in Noida, Greater Noida, Ghaziabad and other parts of the national capital region.

Manish Kumar, who bought a flat from his life’s savings in the year 2010 at an apartment in Greater Noida West, is still awaiting possession of his flat or a refund, despite RERA’s order.

“I went to RERA and waited for three months after which it had ordered the realtor to provide me a flat from his project which is completed. However, it was found that there is a clerical mistake in the order. It took three months to rectify the mistake. So far, I am living in rented accommodation with uncertainty as more than a decade has passed but nobody is here to help,” said Kumar.

According to the rules of RERA, the order for recovery of money from the builder is to be executed by the district administration. Asked about the delay in the recovery, RERA chief consultant Abrar Ahmed refused to comment on the issue, citing multiplicity of authority.

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