UP RERA Disburses Over Rs 73.84 Lakh in Interest to Around 430 Complainants
Lucknow/ Gautambuddh Nagar, September 21, 2026: The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has paid Rs 73,84,269.03 in interest earned on recovered funds that remained pending in bank accounts to around 430 complainants, it said in a press release.
In complaints filed before UP RERA, Recovery Certificates (RCs) are issued against defaulting promoters or builders after orders are passed by the Authority, with the funds subsequently recovered through the Revenue Department. Following recovery, the funds are deposited in bank accounts awaiting disbursement to the respective complainants. In several instances, immediate payment cannot be released because complainants delay submitting required documentation, such as affidavits, causing the funds to remain in bank deposits where they accumulate interest.
Recognizing the interests of home buyers, UP RERA decided to transfer the interest earned during the holding period directly to the complainants. The interest payout is calculated based on the precise timeframe for which the recovered money remained deposited in the bank prior to final disbursement. UP RERA confirmed that all payment records and lists have been documented and safely maintained.
Sanjay Bhoosreddy, Chairman, UP RERA, said that this step taken by the authority is important for protecting the financial interests of complainants and ensuring that the recovered money is handled in a transparent and fair manner. The Authority is working to ensure that money recovered through RCs is paid to the concerned complainants on time and that eligible complainants also receive the interest earned while their money remained pending in the bank.
