UP-RERA Facilitates Possession with Delay Interest in Devaika Gold Homz Project

The forum provides mediation by the conciliator, involving both allottees and promoters, who make concerted efforts to resolve disputes amicably.

NEW DELHI: The Uttar Pradesh Real Estate Regulatory Authority’s (UP-RERA) conciliation forum has successfully secured possession, including interest for the delay period, for allottee Rajeev Aggarwal in the Devaika Gold Homz project in Greater Noida.

Following mediation, the demands of both parties have been consolidated into a new agreement between the promoter and the allottee. As per the agreement, the allottee will pay Rs. 2.50 lakh to the promoter and receive the unit with all amenities outlined in the agreement for sale. Additionally, advance maintenance charges will be applicable from the actual date of possession.

Sanjay Bhoosreddy, Chairman of UP-RERA, emphasized, “Promoters and allottees can opt for the conciliation forum for mutual settlement of matters. The forum provides mediation by the conciliator, involving both allottees and promoters, who make concerted efforts to resolve disputes amicably.”

The allottee, Rajeev Aggarwal, had booked a unit in the project with a cost of Rs. 16.76 lakh. Despite paying Rs. 16.49 lakh following the agreement for sale, he faced delays in possession with no response from the promoter regarding the delay period. Frustrated by the slow pace of development and discrepancies in the last demand letter, which included Rs. 8 lakh, along with interest for the delay period, Aggarwal officially lodged a complaint with the authority.

The conciliation forum of UP-RERA has successfully resolved over 1,300 matters, settling disputes related to properties worth Rs. 510 crore.

Follow and Connect with us: Twitter, Facebook, Linkedin, Instagram