April 18, 2023
Supertech settles 32 recovery certificates issued by UP-RERA, wants cases stopped
Supertech, a significant player in the real estate industry, has notified the administration that it has paid 32 recovery certificates issued by UP-Rera for Rs 7.6 crore. Furthermore, it claimed to have given the administration Rs 3 crore.
Supertech stated in a letter that it was making every attempt to amicably resolve any outstanding issues with the allottees by providing them with substitute units or other amenities. It requested that the administration halt the RC actions being taken against it.
RK Arora, the chairperson of Supertech, was summoned to the SDM's office in Dadri on May 8 in relation to 52 RCs issued by Rera for a total of Rs 26 crore. This has to do with the residential development known as Gold Country, which is located in Sector 22D of the Yamuna Authority region.
The developer had 2,000 apartments in mind when work on the project got underway in 2012. But, a few farmers and landowners petitioned the Allahabad high court and obtained a halt to the land distribution.
Supertech only provided about 1,000 apartments. After an approach by the purchasers of the other apartments, Rera issued RCs against the developer.
Supertech claimed that circumstances beyond of "the control of them company" were to blame for the delay in delivering the apartments in a two-page letter to the district court on Friday.
The letter stated that "the construction activity was not carried out in the absence of any amicable solution to the difficulties."
We have been communicating in writing with the Yamuna Authority to address their concerns and secure our ability to proceed with construction without interference, the statement continued.
According to Supertech chairperson Arora, the business is not to blame for the delay in the delivery of apartments. "We are contacting UP-Rera once more about recalling the RCs. Rera has begun deliberating over our requests. We have also asked the district government to halt the RCs' recovery actions since we are prepared to deliver and amicably settle with the other allottees.
According to Vandita Srivastava, ADM (finance), "Supertech has sent a letter to the administration. The decision to halt the RC procedures has not yet been made. We will comply if Rera recalls certain RCs and notifies us.