Supertech, a prominent real estate company, has recently informed the administration that it has successfully resolved 32 recovery certificates (RCs) issued by the Uttar Pradesh Real Estate Regulatory Authority (UP-Rera), amounting to a total of Rs 7.6 crore. Additionally, the company stated that it has made a payment of Rs 3 crore to the administration. These developments come as Supertech strives to address the concerns of its customers and settle any outstanding complaints amicably. The company has been offering alternative units or other suitable arrangements to allottees in an effort to find mutually agreeable solutions.
Supertech, a prominent real estate company, has recently informed the administration that it has successfully resolved 32 recovery certificates (RCs) issued by the Uttar Pradesh Real Estate Regulatory Authority (UP-Rera), amounting to a total of Rs 7.6 crore. Additionally, the company stated that it has made a payment of Rs 3 crore to the administration. These developments come as Supertech strives to address the concerns of its customers and settle any outstanding complaints amicably. The company has been offering alternative units or other suitable arrangements to allottees in an effort to find mutually agreeable solutions.
In a letter addressed to the administration, Supertech expressed its desire for the RC proceedings against the company to be halted. The company's intention is to work towards resolving any remaining complaints by engaging in constructive discussions with the affected customers. Supertech emphasized its commitment to resolving these issues and reaching a satisfactory resolution for all parties involved.
On May 8, Supertech's chairperson, RK Arora, was summoned to the office of the Sub-Divisional Magistrate (SDM) in Dadri. The summons was in connection with 52 recovery certificates issued by UP-RERA, with a cumulative value of Rs 26 crore. These RCs were related to the Gold Country residential project located in Sector 22D of the Yamuna Authority area.
The Gold Country project, initiated in 2012, initially aimed to construct 2,000 flats. However, certain farmers and landowners obtained a stay order from the Allahabad High Court, which halted the land allotment process. As a result, Supertech was only able to deliver approximately 1,000 flats, leaving buyers of the remaining units dissatisfied. These buyers turned to UP-RERA, which subsequently issued recovery certificates against the developer.
In a two-page letter addressed to the district magistrate, Supertech attributed the delay in delivering the flats to factors beyond the company's control. The letter explained that in the absence of a mutually agreeable solution, the construction activities were suspended. Supertech reiterated that it had been actively communicating with the Yamuna Authority in writing, seeking resolution to the issues at hand and urging the resumption of construction in a peaceful manner.
Chairperson RK Arora stated that Supertech firmly believed that the company was not responsible for the delays in flat delivery. The company is now actively pursuing the recall of the recovery certificates issued by UP-RERA. The applications submitted by Supertech are currently being reviewed by RERA, and the company has also requested the district administration to suspend the recovery proceedings of the RCs. Supertech aims to reach agreements with the remaining allottees and fulfil its commitments in a mutually satisfactory manner.
The situation between Supertech and the allottees remains ongoing, with efforts being made to find a resolution that addresses the concerns of all parties involved. The company's commitment to resolving the outstanding complaints and its willingness to engage in negotiations demonstrate its dedication to customer satisfaction and its determination to overcome the challenges faced during the development of the Gold Country project.
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