To protect the interests of homebuyers, the Uttar Pradesh Real Estate Regulatory Authority (UP RERA) imposed a penalty of more than Rs 1.77 crore on 11 real estate developers for not complying with its orders.
UP RERA, in its 112th meeting held under the chairmanship of Rajive Kumar, on December 30 reviewed the status of compliance with its orders by the promoters and noted that some promoters had not complied with its orders despite the Authority having granted them sufficient time.
“The Authority notified its discontentment about the non-compliance of orders by the promoters even after getting enough time. In today’s hearing UPRERA has imposed penalty of Rs 1,77,19,510 on total 11 real estate promoters,” a statement issued by UPRERA said on December 30.
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 penalty has been imposed include SRB Promoters Pvt. Ltd. (Rs 22.10 lakh), Sikka Infrastructure Pvt. Ltd. (Rs 29.88 lakh), Rudra Buildwell Projects Pvt. Ltd. (Rs 6.09 lakh), Rudra Buildwell Homes Pvt. Ltd. (Rs 49.26 lakh), Mist Direct Sales Pvt. Ltd. (Rs 20.30 lakh), Mahagun(India) Pvt. Ltd. (Rs 10.61 lakh), Valiant Infradevelopers Pvt. Ltd. (Rs 12.98 lakh), Gardenia India Pvt. Ltd. (Rs 8.65 lakh), Gaur Sons Infrastructure Pvt. Ltd. (Rs 6.12 lakh), Logix Buildtech Pvt. Ltd. (Rs 6.65 lakh) and SDS Infracon Pvt. Ltd NRI Township Yamuna (Rs 4.51 lakh), the statement said.
There was no immediate response available from the developers who have been fined.
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Rajive Kumar, Chairman, UPRERA said the authority is taking strict action against insensitive promoters to protect the interests of home buyers.
“The Authority is fully committed to protect the interests of homebuyers 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 quoted Kumar as saying.
The Authority further directed the promoters to submit the compliance report 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, the statement said.
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