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U.P. RERA imposes penalty of over Rs. 1.40 cr against 9 promoters for non-compliance

Up-Rera

Gautam Budh Nagar/Lucknow, Feb 16, 2022: U.P. RERA, in its 84th meeting held under the chairmanship of Rajive Kumar on February 11, 2022, reviewed the status of compliance of its orders by the promoters. The meeting was attended by its members Balvinder Kumar, Kalpana Misra, Bhanu Pratap Singh, Secretary Rajesh Kumar and senior officers.

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 is making constant efforts to ensure enforcement of its orders and provide speedy justice to the agreed allottees. The action of penalty against the guilty promoters is an important step towards compelling them to comply with the orders of the Authority.

Taking the above facts in to account, the Authority decided to impose appropriate penalty against the promoters to ensure compliance of 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% of the cost of the project, decided to impose penalty against the promoters as per the details given below:

S. noName of the PromoterAmount of the Penalty (in Lakh)
1AIMS Promoters Pvt. Ltd.Rs. 16,68,960
2Wave Mega City Centre Pvt. Ltd.Rs. 43,82,675
3Ansal Housing Ltd. And Ansal Properties & Infrastructure Ltd.Rs. 19,28,055
4Antriksh Realtech Pvt. Ltd.Rs. 16,87,910
5AVP Realty Pvt. LtdRs. 12,07,500
6ATS Realty Pvt. Ltd.Rs. 7,64,610
7Krishna Estate Developers Pvt. Ltd.Rs. 10,31,475
8Ratan Buildtech Pvt. Ltd.Rs. 7,49,595
9Redicon Infrastructure & Housing Pvt. Ltd.Rs. 5,81,445
 Grand Total1,40,02,225

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.

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Rajive kumar

Rajive Kumar, Chairman, U.P. RERA said, “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”.

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