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UP RERA penalizes 14 promoters

The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has decided to penalise 14 promoters, including Supertech, Parth Infrabuild, Radicon Infrastructure & Housing, IVR Developers, Logix Infrastructure and Harsha Associates.

The Authority passed these orders under the provisions of Section 63 of the RERA Act which empowers it to impose penalties up to 5 percent of the cost of the project for non-compliance of its orders by the promoters.

The others against whom the action has been taken are: Parsvnath Developers, Green Bay Infrastructure, Green View Cooperative Housing Society, Quality Township, Rudra Buildwell, Buland Buildtech, Kindle Infraheights and JSS Buildcon.

The decision to impose the penalties was taken at the 56th Board meeting of UP RERA held on February 5 at the Lucknow headquarters of the Authority. The meeting was chaired by UP RERA Chairman Rajive Kumar and attended by members Balvinder Kumar, Kalpana Misra and Bhanu Pratap Singh and senior officers of UP RERA.

The promoters have been ordered by the Authority to ensure that the penalty amount is paid within 30 days.

It was also decided that if a promoter does not pay the penalty within the stipulated period, then the recovery certificate will be issued and District Magistrate will be commissioned to recover the amount as arrears of land revenue.

UP RERA Chairman Rajive Kumar said, “The Authority is taking the compliance of orders passed seriously in order to provide justice to the homebuyers. In cases of violation of the order speedy proceedings will be taken to complete the hearing before the concerned Bench of the Authority, impose penalty and ensure recovery on the basis of the findings and recommendations of the Bench.”