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UP RERA imposes penalty of Rs 1.39 crore on 13 real estate developers

UP RERA, at a meeting held under the chairmanship of Rajive Kumar on September 23, reviewed the status of compliance with its orders by the promoters and issued the directive.

Representational image.

Representational image.

Uttar Pradesh RERA has imposed a penalty of more than Rs 1.39 crore on 13 real estate developers for not complying with its orders despite the Authority granting sufficient time to them.

UP RERA, in its 104th meeting held under the chairmanship of Rajive Kumar on  September 23, 2022, reviewed the status of compliance with its orders by the promoters and issued the directive.

The Authority is making constant efforts to ensure enforcement of its orders and provide speedy justice to the aggrieved allottees. The action of penalty against the guilty promoters is an important step towards compelling them to comply with the orders of the Authority, it said.

Taking the above facts into account, the Authority decided to impose an appropriate penalty against the promoters to ensure compliance with its orders and protect the interests of the home buyers, the Authority said in a statement.

The Authority, using its powers under section 38/63 of the RERA Act which empowers it to penalise the non-compliant promoters with up to 5 percent of the cost of the project, decided to impose penalty against the promoters that include SRB Promoters Pvt Ltd, Gardenia India Promoters Pvt Ltd, Earthcon Construction Pvt Ltd, Aura Buildewell Pvt Ltd, and AIMS Golf Town Developers Pvt Ltd.

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The Authority directed the promoters to submit the compliance report of its orders within 15 days and deposit the amount of penalty within 30 days. Otherwise, the amount of penalty shall be recovered as arrears of land revenue.

"Uttar Pradesh RERA is continuously taking strict decisions against the insensitive promoters for protection of the interests of the home buyers. The Authority is fully committed to protect the interests of home buyers and, for this, the Authority is taking all possible steps to regulate the real estate sector of the state according to the RERA Act," said Rajive Kumar, Chairman, UP RERA.
Moneycontrol News
first published: Sep 23, 2022 03:35 pm
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