UP RERA imposes penalty against 13 developers

The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has imposed penalty of Rs 1 crore 39 lakhs against 13 promoters after reviewing the status of compliance of its orders by the promoters.

The authority is making constant efforts to ensure enforcement of its orders and provide speedy justice to the aggrieved allottees. 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, using its powers under section 38/63 of the RERA Act which empowers it to penalise the non-compliant promoters with up to 5% of the cost of the project, decided to impose penalty against

SRB Promoters Pvt. Ltd., Gardenia India Promoters Pvt. Ltd, AIMS Golf Town Developers Pvt. Ltd, MV Infrastructures and Housing Pvt. Ltd, Elegant Infracon Pvt. Ltd, Redicon Infrastructures Pvt. Ltd, Decent Buildwell Pvt. Ltd, Uttam Steel and Associate (Consortium), JSS Buildcon Pvt. Ltd, Earthcon Construction Pvt. Ltd, Opulent Infradevelopers Pvt. Ltd, Aura Buildwell Pvt. Ltd and Green Bay Infrastructures Pvt. Ltd.

The authority further 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.

“Uttar Pradesh RERA is continuously taking strict decisions against the insensitive promoters for protection of the interests of the home buyers. 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.

Source: https://economictimes.indiatimes.com/industry/services/property-/-cstruction/up-rera-imposes-penalty-against-13-developers/articleshow/94398656.cms