UPRERA GETS RS 102 CRORE AS PENALTY FROM 639 DEVELOPERS

LUCKNOW: The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has recovered Rs 102.89 crore from 639 developers as penalty for not fulfilling commitment made to homebuyers, officials said.

Out of the 639 developers, 361 have their head office in Lucknow and remaining in Noida and the regulatory authority realised the fine with the help of district magistrates in these districts.

“The UPRERA is continuously trying to provide effective relief to protect the interests of homebuyers. The Authority is happy to share the list of cases where it has been able to recover the due amounts through the active support of respective district magistrates,” said Rajive Kumar, chairman, UP RERA.

According to officials of the regulatory authority, the list carries names of developers and fine realised till February 25 last.

The Uttar Pradesh Real Estate Regulatory Authority has cancelled registration –applications of several developers across the state, including those in the state capital.

The regulatory authority took the step after it came across gross anomalies in documents submitted by developers for registration of their respective projects.

UP tops the chart when it comes to complaints against developers with the state registering 45 percent of total complaints lodged against developed with the RERA across the country. However, the Uttar Pradesh Real Estate Regulatory Authority also has the distinction of addressing maximum complaints as compared to other parts of the country, officials said.