UP RERA imposes Rs 1.77 crore penalty against 11 promoters

Lucknow (Uttar Pradesh) [India], December 31 (ANI): The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has imposed a penalty of over Rs 1.77 crore against 11 promoters for not complying with orders of the authority, said a press release.
The UP RERA notice on Friday detailed its discontent about the non-compliance of orders by the promoters even after getting enough time. In Friday’s hearing, UP RERA has imposed a penalty of Rs. 1,77,19,510 on a total of eleven real estate promoters, added the press release. It has also been notified by Authority that Gautambuddh Nagar and Lucknow are the top two districts in terms of the number of complaints filed. More than 47,000 complaints have been registered and more than 42,000 have been disposed of.

The action of penalty against the guilty promoters is an important step towards compelling them to comply with the orders of the Authority.
The Authority decided to impose appropriate penalties against the promoters to ensure compliance with its orders and protect the interests of the 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 per cent of the cost of the project, decided to impose penalties against the promoters as per the details given below.

The Authority further directed the promoters to submit the compliance report of its orders within 15 days and deposit the amount of the penalty within 30 days, otherwise, the amount of the penalty shall be recovered as arrears of land revenue.
On this occasion Rajive Kumar, Chairman, UP RERA said that Uttar Pradesh RERA is continuously taking strict decisions against insensitive promoters for the protection of the interests of the home buyers. 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 112th meeting of UP RERA was held on 30 December 2022. A total of 19 hearings were done during the session 10 were for project registration, 5 for registration extension and 4 were against the disobedience of the model agreement of sales notified by the government of Uttar Pradesh.