UPRERA imposes penalty of Rs 1.05 crore on nine developers

Uttar Pradesh Real Estate Regulatory Authority  (UPRERA) has imposed a penalty of Rs 1.05 crore on nine developers for not complying with its orders despite the Authority having granted them sufficient time.

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, it said in a statement.

The Authority, in its 93^rd meeting, held under the chairmanship of Rajive Kumar, reviewed the status of compliance with its orders by the promoters. The meeting was attended by its members Kalpana Misra, Bhanu Pratap Singh and secretary Rajesh Kumar and senior officers.

The Authority noted with displeasure that some of the promoters have indulged in non-compliance with its orders despite the Authority granting them sufficient time. 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, it said in a statement.

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.