UP RERA imposes penalty of over Rs 1.39 crore on 13 developers for non-compliance
Uttar Pradesh RERA is continuously taking strict decisions against the insensitive promoters for the protection of the interests of the home buyers and is fully committed to protecting the interests of home buyers, it said.
- UP-RERA has imposed a penalty of over Rs 1.39 crore on 13 builders
- The authority imposed penalty under Section 38/63 of the RERA Act
- The promoters were directed to deposit the fine within 30 days
In a bid to tighten the noose around errant builders, Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has imposed a penalty of over Rs 1.39 crore on 13 builders for non-compliance. The decision was taken by UP RERA chairman Rajive Kumar in the authority's 104th meeting today, i.e. September 23.
Kumar said that Uttar Pradesh RERA is continuously taking strict decisions against the insensitive promoters for the protection of the interests of the home buyers and is fully committed to protecting the interests of home buyers.
The authority noted with displeasure that some of the promoters failed to comply with its orders despite the authority granting them sufficient time for the same. "The authority is making constant efforts to ensure enforcement of its orders and provide speedy justice to the aggrieved allottees. The action of penalty against the guilty promoters is an important step toward compelling them to comply with the orders of the Authority. Taking the above facts into account, the authority decided to impose an appropriate penalty against the promoters to ensure compliance with its orders and protect the interests of the home buyers," said the UP-RERA in a statement.
The authority imposed the penalty on the promoters under section 38/63 of the RERA Act. The act empowers the authority to penalise the non-compliant promoters with up to 5% of the cost of the project.
The Authority also directed the promoters to submit the compliance report of its orders within 15 days and deposit the amount of penalty within 30 days, else, the amount of penalty shall be recovered as arrears of land revenue.