UP RERA penalises 11 promoters

The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has imposed penalties on 11 promoters who did not comply with its orders passed in favour of homebuyers.

The decision to impose a cumulative penalty of Rs. 2.5 crore was taken at the 54th meeting of UP RERA held under the chairmanship of its Chairman Rajive Kumar.

The orders were passed under the provisions of Section 63 of the RERA Act which empowers the Authority to impose penalties up to 5 per cent of the cost of the project for non-compliance of its orders by the promoters.

Among the promoters who have been penalised are Newtech Promoters & Developers, Supertech, Lucknow Development Authority, Tulsiani Construction and Developers and Antriksh Realtek.

Kumar said, “Whereas quite a larger number of promoters are abiding by the orders of the Authority, some of the promoters have not complied with its orders. The Authority as per RERA Acts and rules will continue to take actions and impose heavy penalties against the errant promoters so that the promoters start complying with the orders of the Authority and homebuyers can get the possession of their dream houses”.