According to the RTI response, UP-Rera has disposed of 21,200 of a total of 28,438 filed in the state. But it has not been able to achieve its objective when it comes to fixing erring builders — the regulator has been able to realise only 16% of the total RCs issued. “The figures clearly show that on the issue of RCs, the regulator has not been that successful,” said Ghaziabad resident Alok Kumar, who had filed the RTI query.
UP-Rera chairman Rajiv Kumar, however, said that the primary function of the regulator is to ensure that incomplete projects are streamlined, keeping in view the interests of all stakeholders, be it buyers or developers. “When it comes to RCs, our job is to issue it and it is for the district magistrates to see to it that buyers get their money back from the developers as mandated by UP-Rera,” he told TOI.
“As far as RCs are concerned, the recovery has to be done by liquidating the assets of the developer or the company. However, given the prevailing situation, especially in the times of Covid pandemic when the real estate sector is going through a slump, it is easier said than done,” added the Rera chief.
Prashant Kanha, a Noida-based lawyer who deals with real estate cases, said that Rera is just not exercising its powers vested when it comes to RCs. “Under Rule 24 of the UP-Rera Rules 2016, the Authority is empowered to exercise powers of a civil court to ensure compliance of any of its orders, including compliance of recovery certificates through district collector” he said.
“The regulator should exercise its powers under Rule 24 and initiate proceedings, thereby fixing dates seeking compliance reports from the district collector on the enforcement progress of the recovery certificate. Currently, Rera does not follow up with collectors post issuance of recovery certificates,” he added.