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Noida: The Uttar Pradesh RERA Issuing ‘public notice’ to real estate agent, warns of legal action Investors Clinic For alleged violation of norms in promotion of a Noida-based project M3M Group, The public notice comes after an Investors Clinic hearing on June 12, scheduled by the UP Real Estate Regulatory Authority (RERA).
“Investor Clinic, which is registered as an agent, was issued a show cause notice by UP RERA on 3rd June in connection with the promotion and promotion of the project ‘M3M The Cullinan’ in Noida Sector 94…
“The agent was asked to appear through video conferencing and present his case on June 12 at 3 pm through show cause notice. However, neither the real estate agent Investors Clinic gave any clarification on the violations nor Appeared on the scheduled date of hearing,” the notice said.
UP RERA has now asked the agent to submit the clarification either personally or over email at its headquarters in Lucknow by 5 PM on June 17.
“The final hearing in the matter has been fixed on June 19 through video conferencing and in case Investors Clinic does not submit its explanation, it will be presumed that it has nothing to say and UP RERA, on the basis of available evidence , will take action against it as per law,” the notice said.
According to a RERA official, the violation, in this case, pertains to the promotion of the project before registration with the state real estate regulator.
The official said that as per the provisions of the RERA Act, promotion of any real estate project by a registered agent before its registration with RERA and without mentioning the valid RERA registration number in any manner is completely against the law.
The official said that UP RERA has found Investors Clinic guilty of violating the Real Estate (Regulation and Development) Act in promoting the project of M3M Group, which is against the interests of the stakeholders of the real estate sector.
Based on the facts, UP RERA has taken a suo motu action regarding promotion without mentioning valid RERA registration number and prior to registration of the real estate project in RERA and issued notices to all real estate agents involved in promotion and marketing Is. promoter, the official said.
Investors Clinic and M3M Group did not respond to PTI’s request for comment.
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