UP-RERA has expressed contentions to issue a show-cause notice to Supertech Realtors under Section 5 (1) of the RERA Act, 2016 to describe why the application for registration should not be refused.
Main purpose of the Act lies in enhancing the Transparency between buyer and builder and creating a strong adjudicating system for the disputes arising in real estate sector.
Under Section 11 of the Act all the projects in the state are required to compulsorily register under RERA and this number is to be shown in every “advertisement” by the promoter.
RajRERA Authority issued more than 300 notices to the developers in light of the delay in project completion and is all set to issue more notices to the concerned new developers.
UPRERA has imposed a cumulative penalty of over Rs 1.93 crore to 14 promoters over non-compliance of its orders under Section 63 of the RERA Act.
The Authority has stopped the builder to make any changes in the sanctioned plan without the approval of the 2/3rd buyer as given under Section 14 of the RERA Act, 2016.
Strict action has been taken as two projects of Ansal API has been de-registered by the UPRERA Authority after the promoter could not provide a satisfactory response to the notices sent by the Authority.
The decision was taken on the demand made by the homebuyers of Jaypee Greens Knight Courts that the promoter completes the remaining work because a new developer may further delay the project.
A perfect decision by the SC where the parties perform activities to avoid any commercial transactions which are collusive in nature or where financial creditor escape the bar under Section 21(2) first proviso of the IBC.
Hon’ble High Court once again demonstrated its power to command the concerned authorities to execute the process of law and to grant relief to the innocent.