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U.P. RERA cancels registration of Antriksh Sanskriti Project with immediate effect

Gautambudh Nagar/Lucknow, June 22, 2022 : Uttar Pradesh RERA has cancelled the registration of three real estate projects located in Ghaziabad – Antriksh Sanskriti Phase-2, Antriksh Sanskriti Phase-3 and Raksha Vigyaan Sanskriti Phase-2, with immediate effect using the powers conferred under Section-7 of the RERA Act. According to the order, their promoters, M/s Antriksh Realtek Pvt. Ltd. and Raksha Vigyaan Karmchaari Sahkaari Aawas Samiti Ltd., are restricted to access the website of U.P. RERA in relation to these projects and they are now specified in the list of ‘defaulters’ with photo and name. This information has been conveyed to RERA offices of other states and UTs. It has been decided by the Authority to freeze bank accounts of projects to prevent any kind of transactions related to the project.

A “Project Advisory and Monitoring Committee” (PAMC) has been constituted under the Chairmanship of Member of the Authority, Kalpana Mishra, for a well-considered proposal regarding further action to complete the remaining development works of the three projects under Section-8 of RERA Act. In this committee, the Vice-Chairman of Ghaziabad Development Authority (GDA) along with Technical Advisor, Conciliation Consultant, Auditor of UP RERA as well as the concerned financial institutions and association of allottees of the project will also be members. Expert assistance will be provided to this committee from the ‘Project Management Division’ (PMD) of U.P. RERA to ensure completion of the project.

Multiple complaints were lodged by the allottees of two projects of M/s Antriksh Realtek Pvt. Ltd.; ‘Antariksh Sanskriti Phase-2’ (UPRERAPRJ10928) and ‘Antariksh Sanskriti Phase-3’ (UPRERAPRJ11055) and a project of ‘Raksha Vigyan Karmacharis Sahkaari Samiti Ltd.’, ‘Raksha Vigyan Sanskriti Phase-2’ (UPRERAPRJ11527) with the Authority under section-31 of the RERA Act, alleging the violation of the agreement/contract with the promoter and delay in construction. As per promoter, the construction and development work of the projects; Antriksh Sanskriti Phase-2, Antriksha Sanskriti Phase-3 and Raksha Vigyaan Sanskriti Phase-2, began in year 2015 and their completion dates are July 2022, July 2022 and June 2023 respectively. As per on-site verification report of projects received by U.P. RERA, presently, the construction and development work has been achieved up to 40 per cent in Antriksha Sanskriti Phase-2 and up to 30 per cent in Antriksha Sanskriti Phase-3. The construction and development work could not commence in Raksha Vigyaan Sanskriti Phase-2. The inspection report also states that all kinds of construction work on the project site are closed for many years thus the chances of completion of the projects are absolutely uncertain.

On the website of U.P. RERA, the promoter has not mentioned minute details in the development plan of the project, their quarterly physical and financial progress reports are not being uploaded on the website, and the sanctioned plan of a project is not being uploaded. On the other hand, the validity of sanctioned plan of another project has expired and the validated map has not been uploaded. The Authority also noticed that the promoter didn’t deposit pending dues or liability of the concerned development authority of the project. Hence the project has been sealed by the development authority and no concrete effort has been made to restore construction. As per the RERA Act, it is mandatory to upload the Audited Balance Sheet and REG-5 within 6 months after the end of each financial year, which has been violated along with the orders passed by the Authority. All these acts are in violation of Section-4 and 11 of RERA Act and Rule-3 and 14 of U.P. RERA Rules and cast serious doubt on the intention and efforts of the promoter to complete the project. The above are contrary to the objectives of the RERA Act and the interests of the allottees. In the clarification presented by the promoters before the U.P. RERA, the promoter could not present any acceptable basis of such disappointing progress of the project and failed to table any time-bound and satisfactory resolution plan to revive the project and complete the remaining construction work.

This clearly shows that the projects are not likely to be completed as no meaningful efforts are being made by the promoters in this direction. Due to this, the construction and development work of the project is in limbo and the investment of the allottees is in trouble. Based on the above facts, it was concluded by the Authority that the promoters have violated the RERA Act, U.P. RERA Rules, and the orders passed by the Authority, which lead to non-completion of the project, blocked its development and risk the investment of the allottees. In such a situation, keeping in mind the interests of the allottees and other stakeholders, U.P. RERA decided to cancel the registration of all the three projects and proceed further under Section- 8 of the RERA Act to complete the remaining construction and development work.