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UP-RERA deregisters two projects of Ansal API, imposes Rs 1 6 crore penalty

UP-RERA deregisters two projects of Ansal API, imposes Rs 1.6 crore penalty SECTIONS Share Synopsis RERA said that the strict action has been taken after the promoter could not provide a satisfactory response to the deregistration notices by the authority. A large number of complaints have been made by the allottees of the projects registered by the promoter with the authority, including non-possession of the units, non-refund of the amount deposited by the allottees, violating the terms and conditions of the sales contract/allotment letter. New Delhi: The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has de-registered two projects of Ansal API in Sushant Golf City, Lucknow.

The RERA Rule That Gives Hope To Homebuyers Stuck With Real Estate Projects

The RERA rule that gives hope to homebuyers stuck with real estate projects This model of homebuyers taking over stuck projects is becoming popular and once some of the projects do get completed, it could become a test case for other projects to emulate Representative image Hundreds of buyers had invested in a project located along the Yamuna Expressway way back in 2011, paying a total amount of Rs 100 crore of which 10 percent was paid by the builder to the authority. Work on the project stalled in 2015. Two years ago, a group of buyers decided to approach Uttar Pradesh Real Estate Regulatory Authority (UPRERA).

Implement Rera order in 3 mths: HC to Noida | Noida News

GHAZIABAD: The Allahabad high court has directed the Noida administration to ensure that a recovery certificate issued by UP-Rera is honoured by the builder who has failed to deliver a flat in time, “preferably within three months”. A reply to an RTI query has revealed that the Uttar Pradesh Real Estate Regulatory Authority (UP-Rera), which came into effect three years ago, has disposed of 74% of the total cases in the state, but only 16% of the recovery certificates issued by it have been realised so far. Recovery certificates are orders issued by the regulatory authority, asking builders to clear dues of buyers if they have failed to deliver projects within the deadline.

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