In a fresh move, the UPRERA i.e. the Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) decided to issue show cause notice to the developers to deregister their projects in case of stalled projects or if there is no progress in the construction of the residential projects.
The authority also informed that a notice will be issued against the developer in case of failing to offer timely possession of the project and also if the developer is absconding or in jail and the construction work is stalled.
In the last couple of days, the UPRERA authority issued deregistration notices to multiple developers under Section 7 of the RERA Act for failing to meet the promises of delivering approximately 4800 residential units that fall under 14 different projects.
The notice is already issued to the developers like Primrose Infratech, PSA Impex for Sampada Livia, MSA Developer for Circuit Heights, Greenbay Infrastructure for Greenbay Golf Homes & Golf Village, Intellicity Business Park for Intellicity project, Mist Direct Sales for Festival City Phase 1,2,3, Unnati Fortune Holdings Ltd for the Aranya Phase 3,4,5. Aranya Phase 1 and 2 as they failed to extend registration.
Apart from this, the UPRERA authority issued notices to many other developers over issues like bad construction quality and delay in the project.
The RERA authority can take measures to take over the stalled projects in order to complete them under the section 8, of the RERA Act 2016.
Earlier this month, the UPRERA took the decision to take over the stalled projects by the developers along with the projects whose deadline has already passed. The Regulatory authority expects that there can be 100 such abandoned projects in the State’s NCR cities like Ghaziabad, Noida and Greater Noida.
After a meeting with the officials of the Greater Noida Industrial Development Authority (GNIDA), the UPRERA officials announced to figure out the exact number of projects that are mid-stuck or left midway by the developers. The UPRERA officials also informed that the exact number of projects that have passed completion dates will also be figured out soon in order to draw a resolution.