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.

UPRERA Authority has imposed penalty of Rs 2.5 crore against 11 developers for failing to comply with the authority’s order, which were in favor of homebuyers.

SEBI ordered Kalpbut Real Estate to refund the illegally raised Rs 15 crore back to investors along with 15 per cent interest annually on the refund amount.