The Uttar Pradesh Real Estate Regulatory Authority (RERA) said on Friday that it has imposed a fine of Rs 1.39 crore on over a dozen real estate promoters. This fine has been imposed for not following the order of UP RERA. In the 104th meeting of UP RERA chaired by Rajiv Kumar, it was decided to impose the fine. The meeting was organized to review the compliance of the orders by the promoters. According to an official statement, UP RERA expressed displeasure that some promoters have not followed its orders despite giving enough time.
“The authority is making constant efforts to implement its orders and provide speedy justice to the aggrieved allottees,” the statement said. The action of fine against the defaulting promoters is an important step towards forcing them to comply with the orders of the Authority.” Real estate promoters facing fines include SRB Promoters, Gardenia India, AIMS Golf Town Developers, MV Infrastructure & Housing and Elegant Infracon.
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