The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) on Thursday said that they have identified 22 projects where the promoters missed deadlines to give possession as stated in their affidavits in the court.
These 22 projects are of over 15 promoters which may face penalty of five percent of the total project’s cost. “Under Section 63 of the RERA, if the replies are deemed to be inappropriate then penalty will be levied on them,” said the authority.
Of the builders identified, Ajnara Realtech may face penalty of over Rs 30 crore, Assotech of about Rs 15 crore, Earthcon Universal Infratech of Rs 33 crore (approx), Patel Advance JV of Rs 27 crore (approx), Logix City Developers of Rs 7 crore, Newtech Promoters and Developers of about Rs 12 crore, among others.
UP-RERA has issued show-cause notice even to the Greater Noida development body which faces penalty of over Rs 3 crore and Ghaziabad development body which may have to pay about Rs 1.39 crore.
All the promoters of these projects have been issued a show cause notice asking the reasons of non-compliance of the court order and to furnish a suitable reply infront of the authority. They have also been called for a meeting with secretary, UPRERA on October 23, 2019 at Greater Noida regional office.
The 22 projects are of the 397 projects that the authority has identifed in the National Capital Region (NCR) where the possession has been delayed. Rest of the promoters will be called later-on regarding non-compliance of the court orders.
Source: https://realty.economictimes.indiatimes.com/
