Wave Group clears Rs 96 crore UP-RERA dues

Wave Group Clears Rs 96 Crore UP RERA Dues

The real estate developer, Wave Mega City Centre Private Limited, has deposited Rs 96 crore to the district administration as part of the settlement of the recovery certificates (RCs) having a total value of Rs 136 crore, issued by UP-Rera.

In May, the district administration issued an order to auction off 38 shops built by the developer in a commercial project in Sector 18 over the non-payment of UP-Rera’s dues.

With 70.5% of its dues now cleared, the district administration is likely to postpone the e-auction of the shops at Wave 1st Silver Tower in Sector 18.

However, the administration officials said that the decision to hold back the auction is subject to the Wave Group fulfilling its remaining dues.