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Noida : The Uttar Pradesh RERA said on Saturday that it has issued a notice to the developer M3M India For allegedly undertaking promotion and marketing for the sale of units in a project in Noida without registering with the Authority in direct contravention of the Rules.
UP Real Estate Regulatory Authority (UP Rare) also warned that its promoter could be jailed if the unregistered project was not shut down, and cautioned other developers to follow suit. Rare Act strictly, according to an official statement.
However, the Gurugram-based developer told PTI that the proposed (promotional) campaign in Noida is “purely an extension of M3M’s corporate campaign” to create awareness and sensitize people about M3M’s presence in the city.
UP RERA issues notice to Noida project M3M India Raids were conducted in Gautam Budh Nagar after receiving information about violation of RERA Act by Private Limited.
“UP RERA has observed that M3M India Pvt Ltd has not completed the process of RERA registration of its project Noida and has started promotion and marketing for sale of units, which is in direct violation of Section 3 of the RERA Act, UP RERA Secretary Rajesh Kumar Tyagi said in the statement.
“Under section 59 of the Act, the promoter is liable to pay a fine of up to 10 per cent of the project cost and/or a jail term of up to three years,” Tyagi said.
UP RERA said that it has found that M3M India has not registered the project with RERA and has started promoting the project. It was also found that there was evidence of the promoter’s “consistent attempts to take his project to the general public through various means”.
RERA Secretary said that RERA Act has been enacted to protect the interest of home buyers and to develop the real estate sector.
“Any arbitrariness by the builders before the implementation of the RERA Act in the real estate sector in Uttar Pradesh will now attract strict action. If any other promoter in the state is also found involved in such violations, no delay Will be.” in the works,” Tyagi said.
UP RERA has directed the promoters of M3M India to “strictly comply” with Section 3/59, which bars the promotion of any housing project without first registering it with the state’s RERA.
When contacted, M3M India said that the special campaign mentioned by UP RERA is not a promotion of the Noida project.
“We would like to clarify that the campaign which is being launched in Noida, Uttar Pradesh is purely an extension of M3M’s corporate campaign to create awareness and sensitize people about M3M’s presence in the city. has not promoted the project at any point, M3M India told PTI in a statement.
“M3M is a law abiding developer and works on the principles of corporate governance and ethics by following all the guidelines and policies issued by the state government. M3M India has made a major investment in Uttar Pradesh, mostly Noida , and will also ensure employment to thousands of people in the region,” said the developer.
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