UP real estate authority slaps penalty on 5 promoters for flouting ads - Hindustan Times
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UP real estate authority slaps penalty on 5 promoters for flouting ads

PTI |
Oct 13, 2023 02:43 PM IST

The Uttar Pradesh Real Estate Regulatory Authority penalty of ₹1 lakh each on the five promoters.

The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) on Thursday said it has imposed a penalty of 1 lakh each on five promoters for violation of advertisement and promotion rules, warning them not to repeat the offence.

UP RERA Secretary Pramod Kumar Upadhyay said the amount of penalty being imposed is only a 'token'.(File)
UP RERA Secretary Pramod Kumar Upadhyay said the amount of penalty being imposed is only a 'token'.(File)

In violation of section-11 of the RERA Act, penalty of 1 lakh each has been imposed on Attractive Nirman Pvt Ltd, Basera City Developers, Hallmark Vyapar Pvt Ltd, Rajeev Son HUF and Lavish Buildmart Pvt Ltd , the UP RERA said in a statement.

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"These promoters were promoting and advertising their projects without RERA Registration number or/and RERA portal. Apart from this, the promoters have been directed to submit an affidavit about the violation, mistake committed, in the advertisements issued and not to repeat it in the future again," it said.

"Also, the promoter will issue fresh advertisements in the publication with RERA Registration Number and RERA portal prominently," it added.

UP RERA Secretary Pramod Kumar Upadhyay said the amount of penalty being imposed is only a "token".

"As per the provisions of the RERA Act, this penalty could be up to 5 per cent of the project cost but the honorable Authority considered the conditions and imposed the penalty.

"It is expected that promoters will follow all the rules and regulations of the RERA Act to make the real estate sector more transparent and responsible," Upadhyay said.

"The confidence of consumers of real estate will boost because it is directly connected with the promoter's act which should follow the rules of the RERA Act," he added.

According to the official statement, Attractive Nirman Pvt Ltd was promoting its residential project BCC Greens, Basera City Developers was promoting its residential project BCC Blue Mountain, Hallmark Vyapar Pvt Ltd was promoting its residential project BCC Sapphire and Rajeev Son HUF was promoting its residential project Wadhwa Palm Regency.

All these projects belong to the Lucknow and Agra districts. While advertising and promoting their respective projects, promoters have missed mentioning the Registration number of UP RERA and the portal both, it noted.

Lavish Buildmart Pvt Ltd has mentioned registration number but missed to mention RERA portal in the advertisement. The promoter was promoting its mixed land use project M3M The Cullinan located in Gautam Buddh Nagar, it added.

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