The Uttar Pradesh RERA has warned of legal action as it issued a "public notice" to real estate agent Investors Clinic for alleged violation of rules in the promotion of a Noida-based project of M3M Group.
The public notice comes after Investors Clinic skipped a hearing on June 12, scheduled by the UP Real Estate Regulatory Authority (RERA).
"Investors Clinic, which is registered as an agent, was issued a show cause notice by the UP RERA on June 3 in connection with the promotion and publicity of 'M3M The Cullinan' project in Noida Sector 94…
"The agent was asked through the show cause notice to appear via video conferencing and present its side on June 12 at 3 pm. However, neither did the real estate agent Investors Clinic present any clarification over the violations nor appeared at the designated time for the hearing," the notice said.
The UP RERA has now asked the agent to present its clarification at its headquarters in Lucknow, either in person or over email by 5 pm on June 17.
"The final hearing in the case has been fixed for June 19 via video conferencing and if Investors Clinic does not present its clarification, then it would be considered that it does not have anything to say and UP RERA, on the basis of the available evidence, will take action against it as per law," the notice stated.
According to a RERA official, violations, in this case, pertain to the promotion of the project before its registration with the state's real estate regulator.
According to the provisions of the RERA Act, the promotion of any real estate project by a registered agent before registration in RERA and promotion in any way without mentioning a valid RERA registration number is completely contrary to the law, the official said.
UP RERA has found Investor Clinic guilty of violating the Real Estate (Regulation and Development) Act in promotion of the project of M3M Group which is against the interests of stakeholders of the real estate sector, the official noted.
Based on facts, UP RERA has taken a suo moto action regarding publicity of the real estate project before its registration in RERA and without mentioning the valid RERA registration number and issued notices to all the real estate agents involved in the promotion and marketing, other than the promoter, the official said.
Investors Clinic and M3M Group did not respond to PTI's request for a response.
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