UP-RERA orders forensic audit of 21 projects of Three C Projects

UP-RERA orders forensic audit of 21 projects of Three C Projects

July 30, 2019 in Uncategorized

NEW DELHI: Uttar Pradesh RERA (UP-RERA) on Monday ordered forensic audit of all 21 projects of Three C Projects which it has registered or is developing along with other builders.
The authority has decided that further action will be taken once empanelled auditors of RERA submits their audit report. The report is to be submitted within two months.
It has appointed officials of Noida and Greater Noida authority along with executive engineer of UP-RERA as the auditors.
The authority also cancelled the registration of four projects of Rohtas Group situated in Lucknow. The decision have been taken after it had issued show-cause notice to the promoters of the company. The projects whose registration have been cancelled are Rohtas Presidential Tower, Rohtas Plumeria Homes, Rohtas Platina Faizabad Road and Rohtas Summit.
The authority will now take further decisions under the Section-8 of RERA Act. Under this section, a proposal by association of allotees can be submitted to complete the rest of the project. If the proposal is not satisfactory, the authority will take suggestion from Uttar Pradesh government, Lucknow Development Authority or may involve co-developers.
UP-RERA has also decided to impose Rs 1 lakh fine on 253 projects whose promoters have failed to give quarterly update. It has also imposed Rs 2 lakh fine on promoters of 800 projects who have not defined quarterly targets. The promoters have to submit the fine within seven days.
Till date, the authority has resolved 9,487 complaints out of 15,994 complaints registered with it. It has received Rs 29.16 crore out of which Rs 18.45 crore have been transferred to allotees. Rest of the amount will be distributed soon, the authority said.

Sources: realty.economictimes.indiatimes.com

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