A cinema theater in Greater Noida was closed down on Wednesday due to non-payment of Rs 1.95 crore in dues. Despite receiving repeated recovery notifications, the Grand Venice Mall in Uttar Pradesh’s Greater Noida failed to pay the dues to the Uttar Pradesh Real Estate Regulatory Authority (UP-Rera). When Bollywood’s latest release Tiger 3 was being shown, the movie venue was unexpectedly closed.
According to The Times of India, Sadar SDM Ankit Kumar stated that whereas Rera issued three recovery certificates against the mall’s developer, Bhasin Infotech and Infrastructures Ltd, the consumer forum slapped one.
“Despite the fact that buyers invested money, their properties were not handed over to them.” Some approached Rera, while others petitioned the consumer forum. They both issued recovery certifications to the developer. Several reminders were made to the developer, but they went unanswered. So, on Monday, we went to the Grand Venice Mall and sealed a cinema theater,” the Sadar SDM told TOI.
Despite multiple reminders, the Grand Venice mall owners, M/s Grand Venezia Commercial Tower Pvt. Ltd. and M/s Bhasin Infotech and Infrastructure Pvt. Ltd, refused to clear the dues, prompting the Greater Noida District Consumer Disputes Redressal Commission to take harsh action.
The district magistrate’s crackdown is part of a larger campaign, as builders in the Gautam Buddha Nagar area owe the district administration nearly Rs 600 crore.
UP-Rera sends recovery notifications against builders in order to protect homeowners’ interests and to stimulate real estate investments.