UP RERA issued deregistration notices to Seven Builders

Greater Noida (8/3/2019 ) In the first of a kind, Uttar Pradesh Real Estate Regulatory Authority (UP RE RA) today issued deregistration notices under Section 7 of the RERA Act to seven builders for failing to meet their commitments to buyers covering 14 projects and approx 4800 residential units.

UP RERA Chairman Rajive Kumar said, “Deregistration notice has been served based upon the information collected, site inspections, and complaints in RERA and non-compliance of the RERA Act. While the Authority had already given strict warnings almost two months ago, this decision was taken after home buyers flagged the repeated delays to the Authority”.

The deregistration process will be moved forward in consultation with the State Government. After the deregistration process and the present promoters not having come up yet with a concrete time-bound action plan to deliver the projects, there will be several options for the projects such as Authority will take over the unfinished projects of these builders and give the first right of completion to buyers.

Authority has decided that if there is no progress if the builder fails to deliver projects, fails to show his keenness to deliver flats if the Builder does not resume construction, is absconding or in jail, the Authority will issue show cause notice to deregister their projects and take over their projects.

UP RERA has also sent notices to many developers over bad construction quality and project delays. Going forward, another 12 developers have been shortlisted and the Authority may go ahead with notices cancelling g registrations if they fail to provide a roadmap for completion. Under RERA Act 2016, Section 8 provides an indication that t he Authority can provide a platform to take up stressed projects and bring them to completion.