Allahabad High Court has issued notice to Gautam Budh Nagar DM Suhas LY for not following the order of recovery action. The court had said that after completing the action in three months, submit its report. For not getting this done, the court has issued a contempt notice and sought an explanation from him.
The court has asked the DM to comply with the order in the next four months or else appear in the court on August 5. The court also said that there would be no need to appear in the event of compliance of the order. Only compliance affidavit has to be filed. This order was given by Justice Saral Srivastava on the contempt petition of Veena Kumari and others. Advocates Saumitra Dwivedi and Shaurya Krishna argued the petition.
Last year too, the Allahabad High Court had issued a notice to Gautam Buddh Nagar District Magistrate Suhas LY to appear before the court on October 4, 2021, to explain his inaction in several similar cases. At that time the order for recovery of the certificate issued by the Real Estate Regulatory Authority (RERA) was given. The court had said that the district magistrate would come out with the details of all pending cases for recovery as per the order passed by RERA.
Real estate developers operating in Noida, adjacent to the capital Delhi, will be allowed to pledge properties to seek help from the central government’s stress fund in completing their stalled projects. In a statement, the Noida Development Authority said the decision to allow real estate developers to mortgage properties and reschedule payment of dues was taken at a meeting of the authority’s board that concluded on Monday.
In November, 2019, the central government had set up an assistance fund with an investment of Rs 25,000 crore to complete the pending housing projects. SBICap has been given the responsibility of investment management of this fund.
More than 1,500 stalled schemes are to be completed from this fund named ‘Special Window for Affordable and Medium Income Housing Projects’ (Swami) in which more than 4.58 lakh flats are proposed. Noida Authority said that till now three residential projects of Noida region have received financial help from this fund. To increase this number, the authority has decided to give some relaxation in the rules.