UP RERA warns of strict action against promoters who are absent from lapsed real estate projects’ review meeting

Greater Noida, March 17, 2023: A stern message has been sent to the promoters who were found absent from the review meetings of lapsed real estate projects held by the U.P. Real Estate Regulatory Authority on March 15, 2023. Uttar Pradesh Real Estate Regulatory Authority (U.P. RERA) has decided to take strict action against the promoters of the lapsed real estate projects who did not attend review meetings of the Authority.

According to Secretary of U.P. RERA, Rajesh Kumar Tyagi, respective bank accounts of the projects being operated by the promoters, who are regularly absent in the review meeting, can be frozen soon. The project can be ordered to stop the sale as well as and the purchase of units. In future, registration of new projects of such promoters may also be completely barred. Secretary, U.P. RERA has directed all officers of the Authority to strictly comply with this order.

U.P. RERA is reviewing the projects whose completion date has expired but so far neither the promoters have reported completion of the project nor have applied for extension of completion date. Such promoters are being called for a meeting by the Authority, but many of them were absent, he said.

Secretary, U.P. RERA, in the review meeting said that arbitrariness of real estate promoters will not be allowed in Uttar Pradesh who are not following the RERA regulations properly. It is mandatory for all real estate promoters to comply with the RERA rules otherwise there will be no delay in taking strict action as per the rules by the Authority.

The meeting was held under the Chairmanship of Secretary, Rajesh Kumar Tyagi and was attended by Technical Advisor, U.P. RERA, Subodh Rai along with members of his Junior Engineers team, Abdul Arif and Akash Srivastava.

A list of promoters has been released who have been continuously absent in the review meeting and have ignored the orders of the Authority and strict action is likely to be taken against them soon: