UP RERA to take action against 41 developer

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The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has decided to take action against 41 developers for not joining the review meeting of the authority.

The action could include freezing of bank accounts, withholding on purchase of unit sales, ban on new project registration among others.

51 promoters were called to attend the review meeting but 41 of them were absent in the meeting.

According to UP RERA secretary Rajesh Kumar Tyagi, promoters who are constantly absent in the review meeting and ignoring the orders of the authority, have been identified for strict action.

Promoters who are selling the unit after the project registration has lapsed, will be charged with the sections of the RERA Act and possible imprisonment.

UP RERA is reviewing projects whose completion date has expired but promoters have not reported the completion of the projects and have not applied for the extension of project.

Secretary RERA said that RERA Act was formed for the development of real estate sector keeping in mind the interests of promoters and buyers bot.

The projects are in A Lucknow, Varanasi, Mathura, Kanpur Nagar, Rampur, Firozabad, Agra, Barabanki, Moradabad, Moradabad, Bareilly, Gorakhpur, Aligarh, Agra and Mirzapur.

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