The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has started scrapping the registration of builders who failed to deliver on time. The development in this regard has come in a meeting of officials associated with real estate regulatory body, sources said.
As informed, during the meeting recently, a member of RERA, Balwinder Kumar informed that notices were issued to scrap the registrations of seven builders.
“Mist builder has promised to complete the project in writing. Mist builder has been given three months’ time whereas the registration of Unnati builder will be scrapped,” sources said.
Mist Direct Sales Private Limited said that it will sell its assets to generate fund to complete its project. However, it was decided in the meeting that if the builder fails to do the job then its registration will be cancelled.
“Registration of Unnati Fortune Holding will be cancelled as it has been observed that the project cannot be completed and they are mulling other ways to complete its project,” sources added.
Meanwhile, the RERA has asked the Grand Venezia and Proplarity builders to get their registrations done in three weeks. If they fail to do so, then they will be fined.
On the other hand, the RERA has issued notice against APJ builders for being absent during the hearings.
RERA had heard almost 150 cases related to builders. Hearing is also going on the cases related to Grand Venezia mall. The complainants have asked to get the project registered and then do the hearing of the project.
They said that the project has three parts - shopping mall, hotel and commercial complex. The Authority had given completion certificate in 2015 to the project on the basis of certain conditions which they have not fulfilled.
As informed, during the meeting recently, a member of RERA, Balwinder Kumar informed that notices were issued to scrap the registrations of seven builders.
“Mist builder has promised to complete the project in writing. Mist builder has been given three months’ time whereas the registration of Unnati builder will be scrapped,” sources said.
Mist Direct Sales Private Limited said that it will sell its assets to generate fund to complete its project. However, it was decided in the meeting that if the builder fails to do the job then its registration will be cancelled.
“Registration of Unnati Fortune Holding will be cancelled as it has been observed that the project cannot be completed and they are mulling other ways to complete its project,” sources added.
Meanwhile, the RERA has asked the Grand Venezia and Proplarity builders to get their registrations done in three weeks. If they fail to do so, then they will be fined.
On the other hand, the RERA has issued notice against APJ builders for being absent during the hearings.
RERA had heard almost 150 cases related to builders. Hearing is also going on the cases related to Grand Venezia mall. The complainants have asked to get the project registered and then do the hearing of the project.
They said that the project has three parts - shopping mall, hotel and commercial complex. The Authority had given completion certificate in 2015 to the project on the basis of certain conditions which they have not fulfilled.
