RERA serves Rs 9.55 crore notice on Antriksh Realtech for non-compliance of its order in stalled Antriksh Sanskriti project

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Ghaziabad, September 04, 2020: AntrikshRealtech Private Limited has been served a Rs 9.55 crore notice by the Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) for violation of one of its orders in the long-delayed Antriksh Sanskriti group housing project on NH-24. As per the RERA notice a penalty of Rs 9.55 crore may be levied on Antriksh Realtech if it does not ensure timely compliance of this order.

It may be recalled that more than 1200 homebuyers who booked flats in Antriksh Sanskriti in 2010-11 are yet to get possession of their flats as the project that was to be completed by 2014 has been sealed by Ghaziabad Development Authority for non-payment of land dues running into Rs 42 crore. One of the homebuyers in this project, Vishal Goyal, who currently resides in Saket, New Delhi, had lodged a complaint in UP-RERA that the builder did not give possession of his flat even after 10 years. Taking cognizance of the matter UP-RERA had earlier issued an order that the allottee should be delivered possession papers by March 2020. Simultaneously the builder was ordered to pay interest to the tune of one per cent plus Marginal Cost of Funds Landing Rate (MCLR) to the complainant.  But Antriksh Realtech failed to comply with this UP-RERA order subsequent to which UP-RERA has issued this notice to the builder.

The homebuyers of Antriksh Sanskriti project have already paid around 90-95% of total committed value of the flats. Unfortunately, they are yet to get a roof over their head as the project is far from complete.

Corporate Comm India (CCI Newswire)