Noida administration seals 32 builder projects worth Rs 344 crore

The Noida administration has sealed properties worth Rs 344 crore after the builders defaulted on refund notices issued by the state's Rera authority.

The Noida administration has sealed 32 builder projects worth Rs 344 crore in the city after UP Rera had issued recovery notices against these properties. The properties will be put up for auction and the amount will be handed over to the state’s Real Estate Regulation and Development Act (RERA) authority. The regulatory authority will use the money from the auction of properties to refund home buyers, reported The Times of India.