The Uttar Pradesh Real Estate Regulatory Authority (UP-Rera) has imposed a collective fine of Rs 1.39 crore on 13 developers who have either delayed giving possession to homebuyers or violated its refund/other orders, using its powers under section 38/63 of the Rera Act empowering it to penalise non-compliant promoters with up to 5% of the project cost.
“We found 13 developers across the state have violated executing or complying with the UP-Rera orders, ranging from failing to submit refunds to giving possession to homebuyers. So, the Authority with the powers vested in it imposed a cumulative fine of Rs 1.39 crore on the developers,” said an official from UP Rera.
“The UP-Rera has also directed erring promoters to submit a compliance report with its orders and deposit the penalty within 30 days, failing which the Authority will recover the cost from the arrears of land revenue,” added the official.
The order comes in the backdrop of UP Rera’s 115th meeting that took place recently. “The regulation of the real estate sector, dogged by litigation pleas from aggrieved homebuyers, led to the formation of the Rera. The UP-Rera is making gradual progress in resolving legacy issues, and it cannot happen without cracking the whip on repeat offenders,” said Rajive Kumar, chairman of UP-Rera.
“It is in this direction that we have imposed a penalty on 13 developers, and such action will continue. It should also serve as a warning that the UP-Rera will not remain a mute spectator to the wrongdoings of developers,” added Kumar.