With an aim to protect the interests of homebuyers, the Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has imposed a penalty of over Rs 1.39 crore on 13 real estate developers for not complying with its orders, the Authority said on February 15.
UP RERA, at its 115th meeting held under the chairmanship of Rajive Kumar, on February 14 reviewed the status of compliance with its orders by the promoters and noted that some have not complied with its orders despite the Authority having granted them sufficient time.
The Authority has decided to impose a penalty on the promoters to ensure compliance with its orders and protect the interests of home buyers.
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 Rs 1.39 crore penalty against 13 promoters, the Authority said in a statement.
Non-compliance relates to issues like delay in handing over flats to buyers, refunds, and submission of approved maps in group housing projects.
The realtors against whom a penalty has been imposed include Sikka Infrastructure Pvt. Ltd. (Rs 22.77 lakh), Mahagun (India) Pvt. Ltd. (Rs 8.64 lakh), Gardenia India Pvt. Ltd. (Rs 26.06 lakh), HeBe Infrastructure Pvt. Ltd. (Rs 12.02 lakh), Parsvnath Developers Pvt. Ltd. (Rs 12.72 lakh), Shubh Advertisers Pvt. Ltd. (Rs 1.07 lakh), Solitaire Infrahomes Pvt. Ltd. (Rs 8.06 lakh), Supertech Township Projects Pvt. Ltd. (Rs 8.73 lakh), Uppal Chaddha High-Tech Developers Pvt. Ltd. (Rs 6.96 lakh), Ajnara Realtech Limited. (Rs 5.61 lakh), ATS Realty Pvt. Ltd. (Rs 7.53 lakh), Lakshya Realinfra Pvt. Ltd. (Rs 7.16 lakh), Capital Infratech Homes Pvt. Ltd. (Rs 12.24 lakh), the UPRERA statement said.
Some developers Moneycontrol reached out to did not comment.
The Authority also directed the promoters to submit the compliance report of its orders within 15 days and deposit the penalty within 30 days. Otherwise, the amount would be recovered as arrears of land revenue, the statement said.
Rajive Kumar, Chairman, UP RERA said that the Authority is continuously taking strict decisions against “insensitive promoters” for protecting homebuyers’ interests.
“The Authority is fully committed to protecting 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,” the statement added.
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