UP RERA fines two developers for advertising without registration

UP RERA fines two developers for advertising without registration

The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has imposed a fine of 1.3 crore against two developers for advertising about the project without registering it with the authority.

“In the board meeting of UP RERA, it was decided that Box hills construction pvt ltd has violated regulations of RERA at their Lotus Garden Homes project in Mathur-Vrindavan development area. As per the regulation, a fine of Rs 1.05 crore has been imposed,” said Rajesh Tyagi, secretary, UP RERA.

The cost of the project is Rs 15.05 crore.

As per the regulation, any developer can not sell apartment or plots and cannot even promote it without getting it registered with RERA. Failing to do so attracts fine upto 10% of the project cost.

“Once the violation was brought to our notice, we got it verified. The promoter was issued a notice but the response was not satisfactory. The developer has been directed to submit the amount within one month and get the project registered within 15 days. Failure to do it will attract criminal action,” said Tyagi.

In a separate case, UP RERA has imposed Rs 25 lakh penalty against SJP hotels and resorts ltd for advertising about its upcoming projects in Lucknow without RERA registration.

The developer was issued notice and was asked to respond within a month.

Source link

Add a Comment

Your email address will not be published.