UP-RERA penalises 11 realty players including Supertech, Antriksh Realtek
New Delhi: UP RERA authority has come done heavily on 11 developers in the state, including Supertech, Newtech Promoters & Developers and Antriksh Realtek, and penalized them for not obeying its orders.
A decision to impose a cumulative penalty of as much as Rs 2.5 crore was taken during the 54th meeting of UP-RERA held recently.
The order to impose penalty was passed by UP-RERA under the provisions of Section 63 of the RERA Act. This section empowers UP-RERA to impose penalty of up to 5 percent of the project cost for non-compliance of its orders by owners/promoters of real estate companies.
Even the Lucknow Development Authority (LDA) has not been spared. LDA has been fined Rs 57 lakh. Tulsiani Construction is also one of the developers which have been fined.