Uttar Pradesh: Real Estate Regulator Imposes Rs 1.77 Crore Penalty On 11 Developers Over Non-compliance

The Real Estate Regulatory Authority said Gautambuddh Nagar and Lucknow are the top two districts among the 10 in terms of the number of complaints filed

The regulator has directed the promoters to submit the compliance report within 15 days and deposit the amount of penalty within 30 days.

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Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has imposed a penalty of more than Rs 1.77 crore on 11 real estate developers for not complying with its orders. The order was passed in its 112th meeting on Friday to protect the interests of homebuyers. 

The meeting held under the chairmanship of Rajive Kumar Authority reviewed the status of compliance with its orders by the promoters and noted that promoters are not complying with orders even after getting enough time.

“The Authority notified its discontentment about the non-compliance of orders by the promoters even after getting enough time. In today’s hearing UPRERA has imposed penalty of Rs 1,77,19,510 on total 11 real estate promoters,” said the statement issued by UPRERA, according to the news agency ANI.

List of real estate developers on the radar  

The realtors against whom penalty has been imposed include SRB Promoters Pvt. Ltd. (Rs 22.10 lakh), Sikka Infrastructure Pvt. Ltd. (Rs 29.88 lakh), Rudra Buildwell Projects Pvt. Ltd. (Rs 6.09 lakh), Rudra Buildwell Homes Pvt. Ltd. (Rs 49.26 lakh), Mist Direct Sales Pvt. Ltd. (Rs 20.30 lakh), Mahagun(India) Pvt. Ltd. (Rs 10.61 lakh), Valiant Infradevelopers Pvt. Ltd. (Rs 12.98 lakh), Gardenia India Pvt. Ltd. (Rs 8.65 lakh), Gaur Sons Infrastructure Pvt. Ltd. (Rs 6.12 lakh), Logix Buildtech Pvt. Ltd. (Rs 6.65 lakh) and SDS Infracon Pvt. Ltd NRI Township Yamuna (Rs 4.51 lakh), the statement said.

The real estate regulator said that Gautambuddh Nagar and Lucknow are the top two districts among the 10 in terms of the number of complaints filed. Presently more than 47,000 complaints have been registered and more than 42,000 have been disposed. 

“The action of penalty against the guilty promoters is an important step towards compelling them to comply with the orders of the Authority. Taking the above facts in to account, the Authority decided to impose appropriate penalty against the promoters to ensure compliance of its orders and protect the interests of the home buyers,” UP RERA noted.

UP RERA chairman Rajive Kumar, said, “The authority is fully committed to protecting the interests of homebuyers and, for this, the Authority is taking all possible steps to regulate the real estate sector of the state according to the RERA Act.” 

The regulator has also directed the promoters to submit the compliance report within 15 days and deposit the amount of penalty within 30 days. Otherwise, the amount of penalty shall be recovered as arrears of land revenue.