RERA Strikes Fine Of Rs 1.93 Crore On 14 UP Developers

RERA Strikes Fine Of Rs 1.93 Crore On 14 UP Developers

February 7, 2021 0 By Realtyao

On February 6th, 2021, The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has imposed Rs 1.93 crore penalties on 14 developers for not complying with its orders.
The developers who have been penalized include Super-tech Ltd., Parth Infrabuild Pvt. Ltd., Radicon Infrastructure & Housing Pvt. Ltd., IVR developers Pvt. Ltd., Infrastructure Pvt. Ltd., Harsha Associates Pvt. Ltd.

They are accused of violating RERA’s orders issued in the past, an official said. It was further informed that if they do not submit the penalty slapped on them within 30 days, a recovery notice (RC) will be issued against them.

The 56th meeting of the authority was held on Friday in the UP Real Estate
Regulatory Authority building hall. It was chaired by the Chairman of the Authority, Rajiv Kumar.

The Authority Chairman directed that if the promoters do not submit the penalty in time. Their report will be sent to the District Magistrate along with RC and 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 a penalty and ensure recovery on the basis of the findings and recommendations of the bench,” said Rajive Kumar, Chairman, UP RERA.

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 with the order of the Authority.

Section 63 of the Indian Succession Act, 1925 declares the substantive law regarding the execution of an unprivileged ‘Will’ and it mandates that the testator has to sign or affix his mark in the presence of two or more attesting witnesses.

It is not necessary that the two attesting witnesses should be present to witness the execution of the ‘Will’. The developers who have been fined include Pashwanath Developers (Rs 10,39,440), Green Bay Infrastructure (Rs 6,23,220), Quality Township System (Rs 5,66,365),
Rudra Buildwell Project (Rs 11,64,240) and Buland Buildtech Control (Rs 6,08,950) among others.


It was further informed that if they do not submit the penalty slapped on them within 30 days, recovery notice (RC) will be issued against them said, Rajiv Kumar.

Source- Economicstimes