The Uttar Pradesh Real Estate Regulatory Authority (RERA) has imposed a penalty of Rs 1.08 crore on seven developers in the city after they failed to comply with the earlier orders of UP RERA to hand over the flats/units to their buyers within the given deadline.
Real estate giants said the sector is recording a surge in commercial property demand during the Navratras and the festive season.The time from October to December plays an important role in giving a new direction to the real estate .