UP RERA penalizes real estate developers for non-compliance with orders
UP RERA penalizes real estate developers for non-compliance with orders
The promoters were directed to deposit more than Rs.1.77 crore within 30 days
The Uttar Pradesh Real Estate Regulatory Authority (RERA) has imposed a penalty of over Rs.1.77 crore on 13 real estate developers for not complying with its orders.
To protect the interests of the home buyers, in its 111th meeting held recently under the chairmanship of Rajive Kumar, RERA reviewed the status of compliance with its orders by the promoters. It noted that some of them had not taken any action despite being granted sufficient time.
Non-compliance relates to issues including delays in handing over flats to buyers, refunds, and submission of approved maps in group housing projects.
The UP RERA secretary Rajesh Kumar Tyagi informed that RERA Act empowered the authority to penalize the promoters by up to 5 percent of the project cost. Therefore, the authority imposed penalties against them.
It directed the promoters to submit the compliance report within 15 days and deposit the penalty amount within 30 days. On failing to do so, the penalty amount would be recovered as arrears of land revenue.
The realtors against whom penalty has been imposed include Gardenia India (Rs.62.13 lakh), Elegant Infracon (Rs.7.93 lakh), Rudra Buildwell Projects (Rs.3.12 lakh), Unibera Developers (Rs.6,31 lakh), K V Developers (Rs.6.67 lakh), Three C Green Developers (Rs.42.40 lakh), Suncity Hi-Tech Infrastructures (Rs.47,515), Antriksh Engineers (Rs.6.98 lakh), Anil Gupta (Rs.9.02 lakh), Idea Builders (Rs 6.80 lakh), Gardenia Developers AIMS (Rs.7.57 lakh), and Logix Infrastructure (Rs.9.60 lakh).
