UP RERA threatened to impose Rs 371 lakh fine for not giving possession

UP RERA threatened to impose Rs 371 lakh fine for not giving possession

November 23, 2019 in Real Estate News

UP RERA has identified 397 projects in the NCR region of several promoters where the compliance of the court orders regarding possession are not being followed.
The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has issued a show-cause notice to 22 builders and have threatened to impose fine of Rs 371 lakh for not following order of giving possession on the given date.
UP RERA has identified 397 projects in the NCR region of several promoters where the compliance of the court orders regarding possession are not being followed.

“These promoters have missed their deadlines to give possession to the complainants as stated in their affidavit in the Court. In the first phase, 22 projects have been identified and called for a meeting with Secretary UPRERA on 23rd October, 2019 at Greater Noida Regional Office,” a RERA official said.
The promoters have been issued a show cause notice asking the reasons of non-compliance of the court order and to submit reply to the Authority
Under Section 63 of the RERA Act, if the replies are deemed to be inappropriate then penalty of 5 percent of the total project cost will be levied on them.

 

sources: realty.economictimes.indiatimes.com

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