UP RERA imposes Rs 1.93 crore penalty against 14 developers

The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has imposed Rs 1.93 crore penalty on 14 developers for not complying to its orders.
The developers who have been penalised include Supertech Ltd., Parth Infrabuild Pvt. Ltd., Radicon Infrastructure & Housing Pvt. Ltd., IVR developers Pvt. Ltd., Logix Infrastructure Pvt. Ltd., Harsha Associates Pvt. Ltd.

The authority has passed these orders under the Section 63 of the RERA Act which empowers the authority to impose penalties up to 5 percent of the cost of the project for non-compliance of its orders.

The authority said that so far Rs 5.86 crore penalty has been imposed on 24 promoters.

The promoters have been ordered by the authority to ensure that the penalty amount is deposited through a demand draft within 30 days.

“It was also decided that if the concerned promoter does not pay the penalty within the stipulated period, then the recovery certificate will be issued and District Magistrate will be commissioned to recover the amount as arrears of land revenue,” an authority spokesperson said.

Authority has sent Recovery Certificates against two promoters earlier for a cumulative sum of Rs 1.47 crore which have already been sent to District Magistrate, Lucknow for recovery.

“The authority is taking the compliance of orders passed seriously in order to provide justice to the home buyers. In cases of violation of the order speedy proceedings will be taken to complete the hearing before the concerned bench of the Authority, impose penalty and ensure recovery on the basis of the findings and recommendations of the bench,” said Rajive Kumar, Chairman, UPRERA.

“The penalty will be imposed on a daily basis under Section-63 of the Act. The increase in penalty amount at the same daily rate will continue to happen till the time the promoter deposits the penalty amount and ensures full compliance of the order of the Authority,” Kumar added.