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Ghaziabad Leads UP-RERA with 77% Recovery Certificate Realization, Lowest Pendency in State

Dated on: Sunday 29th December 2024

Ghaziabad has achieved a 77% realization rate of recovery certificates (RCs) issued by the Uttar Pradesh Real Estate Regulatory Authority (UP-RERA), marking the lowest pendency rate in the state at 23%. The city has executed 699 RCs worth ?204.47 crore, with 365 RCs valued at ?94.31 crore still pending. In comparison, Gautam Buddh Nagar (GB Nagar) leads in the total value recovered with 1,226 RCs worth ?405.03 crore but faces a higher pendency rate of 72%, with 4,071 RCs worth ?1,512.9 crore unresolved. Officials credit Ghaziabad's success to effective coordination between UP-RERA and district authorities, though challenges like developers having addresses outside the district persist. Efforts are ongoing to further reduce pendency and enhance compliance. This progress underscores a commitment to safeguarding homebuyers' interests and improving the enforcement of real estate regulations in Uttar Pradesh.

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