Noida: Sending a strong message to developers who have not obedient to the previous order, the Uttar Pradesh Real Estate Regulatory Authority (UP-Rera) has imposed a 1.08 crore Rs sentence in seven developers.
All seven builders fail to send units to their buyers in the specified deadline.
While four have projects in Noida, two comes from Ghaziabad and one based in Meerut.Toi has learned that the Chair of the Up-Rera, along with the Secretary and three members, held a meeting on January 24 to review the status of the order.
At the meeting, they noticed that several developers, despite searching for additional time from the regulator to fulfill the obligation, failing to obey the instructions.
Buyers, meanwhile, continue to appeal them before the authority to get payments or allotments.
Turning on the Law of the Rera, the regulator slapped the highest penalty at Rs 35.41 Lakh at Gardenia India Limited.
During the inspection in October last year on the command of the Rera, the expert team visited the Gardenia Gateway project in the Sector 75 which would be completed in two phases.
However, several anomalies were detected during the project survey and many of the facilities promised to the buyer remained incomplete.
Seen from Ghaziabad, Sarvottam Realcon Pvt Ltd was asked to pay Rs 27.08 lakh while an ansal urban condo had to deposit RS 3.09 Lakh.
Alpha Corp.
Pvt Ltd, who is developing a project on Jalan Raya Meerut-Muzaffarnagar has been asked to pay Rs 8.75 lakh.
The Developer case failed to deposit the number of penalties within 15 days, officials said, the regulator could publish their recovery certificate and asked the local government to attach their property to recover money.
In other developments, the regulator has extended the deadline for developing reports of quarterly progress of their project two months.
“They will now get up to February 28 to upload details on our portal,” said a Rera official.