Page 4 - Up Rera News Today

Uploading QPR periodically on portal is one of the key responsibilities of the promoter that enables the consumers of real estate sector to access progress of the project on regular intervals.

Uttar Pradesh RERA: ORO Infra Developers LLP had released advertisement of ORO Constella and AIS Developers LLP had released advertisement of The Galleria in print publications.

The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has requested the State Level Bank Committee (SLBC) to prevent banks from providing debit card, cheque book, and net banking facilities to the promoters of real estate projects in order to prevent fund diversion. UP RERA has mandated that the bank account should only be in the name of the main promoter, and banks should ensure that funds are used exclusively for the construction and development of the specific project.

Uttar Pradesh RERA: UP-RERA had issued a direction on December 24, 2020 which states that all new real estate projects being launched from April 1, 2021, it is mandatory for promoters to maintain three bank accounts.

Officials have stated that these builders were allegedly promoting and advertising their projects without a RERA registration number.

The Uttar Pradesh Real Estate Regulatory Authority penalty of ₹1 lakh each on the five promoters.

Uttar Pradesh RERA: According to the Pramod Kumar Upadhyay, secretary, UP-RERA, "the amount of penalty being imposed is only a token. As per the provisions of the RERA Act, this penalty could be up to 5 percent of the project cost but authority considered the conditions and imposed the penalty."

Ajay Kumar Gupta had bought a unit in a project, Skytech Colour Avenue, being developed by Jatasya Promoters in Greater Noida West. The proposed date of possession was July 2019.

One Leaf Troy: As per the mutual settlement between Nivas Promoters and allottees, an amount of Rs. 62 lakh 11 thousand have been paid to all allottees to withdraw their matters.

Noida: The Uttar Pradesh Real Estate Regulatory Authority (UP Rera) has given its nod to the promoter of Elegant Ville in Techzone 4, Greater Noida We.