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NOIDA: The Noida administration has sealed properties worth Rs 344 crore in 32 builder projects. These properties will now be put under the hammer and the money earned from it would be handed over to UP-Rera. The regulatory authority will, in turn, use the amount to refund buyers.
Some of the developers whose properties were sealed on Wednesday were Sikka Group, Ajnara, Supertech, Rudra Buildwell and Antriksh. UP-Rera had issued recovery notices against these properties. This money would be used to refund buyers in cases where Rera has issued refund orders but they have not been honoured by the defaulting builders.