News
U.P. RERA imposes penalty of over Rs. 1 cr against 13 promoters
Gautam Budh Nagar/ Lucknow: U.P. RERA, in its 115th meeting held under the chairmanship of Sh. Rajive Kumar on February 15, 2023, reviewed the status of compliance of its orders by the promoters. Members of U.P. RERA T Venkatesh, Dr. Deepak Swaroop Saxena and Secretary Rajesh Kumar Tyagi were also present in the meeting. The Authority heard 22 matters in the meeting related to Project Registration, Project Extension and Non-compliance of model Agreement for Sale notified by Govt. of Uttar Pradesh. The Authority noted with displeasure that some of the promoters have indulged in non-compliance of its orders besides the Authority granting them sufficient time for the same.
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 the promoters as per the details given below:
Sr No. | Promoter’s Name | Amount of Penalty (In Rupees) |
1 | Sikka Infrastructure Pvt. Ltd. | ₹ 22,77,220.00 |
2 | Gardenia India Pvt. Ltd. | ₹ 26,06,040.00 |
3 | HeBe Infrastructure Pvt. Ltd. | ₹ 12,02,030.00 |
4 | Parsvnath Developers Pvt. Ltd. | ₹ 12,72,540.00 |
5 | Shubh Advertisers Pvt. Ltd. | ₹ 01,07,485.00 |
6 | Solitaire Infrahomes Pvt. Ltd. | ₹ 08,06,400.00 |
7 | Supertech Township Projects Pvt. Ltd. | ₹ 08,73,730.00 |
8 | Uppal Chaddha High-Tech Developers Pvt. Ltd. | ₹ 06,96,595.00 |
9 | Ajnara Realtech Limited. | ₹ 05,61,165.00 |
10 | ATS Realty Pvt. Ltd. | ₹ 07,53,080.00 |
11 | Mahagun (India) Pvt. Ltd. | ₹ 08,41,190.00 |
12 | Lakshya Realinfra Pvt. Ltd. | ₹ 07,16,280.00 |
13 | Capital Infratech Homes Pvt. Ltd. | ₹ 12,24,035.00 |
Total | ₹ 1,39,37,790.00 ( Once Crore Thirty Nine Lakh, Thirty Seven Thousand Seven Hundred & Ninety Only) |
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.
Rajive Kumar, Chairman, U.P. RERA said that 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.
-
News3 weeks ago
Noida’s High-Rise Societies Face Multiple Challenges Despite Rapid Urban Growth
-
News3 weeks ago
Olive Announces Dhruv Kalro as Co-Founder
-
News4 weeks ago
Godrej Properties Sells 5000+ Homes of Rs 9.5 cr in Q4FY24, Bookings up 84% YoY
-
News4 weeks ago
Vestian: Domestic Investors Dominate Institutional Investments in Jan-Mar’24
-
News3 weeks ago
India to become the fastest-growing silver economy, housing up to 17% of the world’s elderly population by 2050: CBRE Report
-
News4 weeks ago
HRERA Gurugram Rejects Godrej Properties’ Project Extension Application, Account Frozen For Prolonged Non-compliances
-
News2 weeks ago
SKA Forays In Luxury Housing: Launches SKA Destiny One in Greater Noida, To Invest Rs 592 Crores
-
News4 weeks ago
Ashiana Housing Sells Rs 440 cr Worth 224 Flats at its Project Amarah in Gurugram