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Ghaziabad: The Uttar Pradesh real estate regulator Right (UP-RERA) has imposed a collective penalty of Rs 1.39 crore on 13 developers, who have either delayed handing over possession to homebuyers or violated refund/other orders, in exercise of its powers under section 38/63. Rare Act empowering it to penalize non-compliant promoters up to 5% of the project cost.
“We found that 13 developers across the state have violated the execution or compliance of UP-RERA orders, ranging from failing to deposit refunds to handing over possession to home buyers. Therefore, the authority with powers vested in it imposed a cumulative penalty of Rs 1.39 crore on the developers,” said a UP RERA official.
“The UP-RERA has also directed the defaulting promoters to submit compliance reports along with its orders and deposit the fine within 30 days, failing which the authority will recover the cost from arrears of land revenue,” the official said.
This order has come in the backdrop of the recently held 115th meeting of UP RERA. “Pleases from aggrieved homebuyers led to the formation of RERA, the regulation of the real estate sector. UP-RERA is making slow progress in resolving legacy issues, and this cannot happen without cracking the whip on repeat offenders. Rajiv KumarChairman of UP-RERA.
He said, ‘In this direction, we have fined 13 developers and this action will continue. This should also serve as a reminder that UP-RERA will not remain a mute spectator to the wrongdoings of developers,” said Kumar.
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