The Uttar Pradesh Real Estate Regulatory Authority (UP-Rera) has imposed a penalty of Rs 1.08 crore on seven developers.
All the seven builders have failed to deliver the units to their buyers within the stipulated deadlines. While four have projects in Noida, two are from Ghaziabad and one is based in Meerut.
TOI has learnt that UP-Rera chairman, along with the secretary and its three members, held a meeting on January 24 to review the status of its orders. At the meeting, they noticed that some developers, despite seeking additional time from the regulator to fulfil the obligations, failed to comply with the directions.
The buyers, meanwhile, kept filing their appeals before the Authority to get the due payment and allotment.
Invoking the Rera Act, the regulator slapped the highest penalty of Rs 35.41 lakh on Gardenia India Limited.
During an inspection in October last year at Rera’s behest, a team of experts visited the Gardenia Gateway project in Sector 75 that was to be completed in two phases. However, several anomalies were detected during the survey of the project and many amenities promised to the buyers remained incomplete.
Alpha Corp Development Pvt Ltd, which is developing a project on the Meerut-Muzaffarnagar highway has been asked to pay Rs 8.75 lakh.
In case the developers fail to deposit the penalty amount within 15 days, officials said, the regulator could issue recovery certificates against them and ask the local administration to attach their properties to recover the money.
In another development, the regulator has extended the deadline for developers to file the quarterly progress report of their projects by two months.
“They will now get time till February 28 to upload details on our portals,” said a Rera official.