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Nivas Promoters Comply UP RERA Order, Settle Disputes With Its Allottes 

Ensuring the compliance or the orders issued by U.P. RERA in the matters of M/s Nivas Promoters Pvt. Ltd., the promoter has resolved the dispute with its allottees by mutual settlement in collaboration of M/s Renowned Buildtech Pvt. Ltd. As per the mutual settlement between promoters and allottees, an amount of Rs. 62 lakh 11 thousand have been paid to all allottees to withdraw their matters. The allotees have received post-dated cheques of multiple instalments. 

While hearing the complaints filed against Nivas Promoters, U.P. RERA ordered to give the possession of the unit to the allottees within the stipulated time or return the deposited amount along with the interest for the delay period.

The residential project of the promoter, One Leaf Troy, is located in Sector 10 of Greater Noida West but the construction and development work in the project has stuck for many years. When the promoter did not comply with the order, the allottees had filed Order Execution Requests on the portal. After this, taking next course of action as provisions under the RERA Act, the Authority held a hearing and issued recovery certificates for the purpose of ensuring refunds to the allottees.