UP govt seizes properties worth Rs 500 cr of rogue builders
New Delhi: The Uttar Pradesh government has seized properties worth Rs 500 crore belonging to 32 builders in the state, mostly in Noida and Greater Noida for indiscipline and taking hoe buyers for a ride.
The properties seized include 163 flats, 5 shops, 6 land parcels and 29 villas. All these properties will be auctioned online as early as July-August.
Another 50 errant builder are on the radar of the government. Their properties will be seized very soon, according to sources in the government.
The builders whose properties have been seized by the government were given several notices by the government to complete the construction and hand over the properties to the buyers. However, the builders did not reply to the notices, nor did they complete the properties, according to the sources. The government has pasted notices on each of the sealed properties and they cannot be sold, purchased or disposed off by anyone now.