UP RERA threatened to impose Rs. 371 lakh to builders fine for not giving possession
The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has identified 397 in the NCR region of several promoters where court orders regarding possession are not complied with. UP-RERA has issued a show-cause notice to 22 builders and have threatened to impose fine of Rs. 371 lakh for not following order of giving possession on the given date.The promoters have been issued a show...
The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has identified 397 in the NCR region of several promoters where court orders regarding possession are not complied with. UP-RERA has issued a show-cause notice to 22 builders and have threatened to impose fine of Rs. 371 lakh for not following order of giving possession on the given date.
The promoters have been issued a show cause notice asking the reasons of non-compliance of the court order and to submit reply to the Authority.
Under Section 63 of the RERA Act, if the replies are deemed to be inappropriate then penalty of 5 percent of the total project cost will be levied on them.