The Uttar Pradesh Real Estate Regulatory Authority on Monday rejected applications for registration of two housing projects citing their inability to fulfill eligibility criteria.
The decision was taken during the 27th meeting of RERA chaired by Rajeev Kumar, Chairman of UP-RERA, held in Lucknow.
According to officials with the real estate regulator, the authority rejected applications of housing projects by two different developers namely Omaxe Max Miracle Buildtech and Shomit Finance Ltd as they were not fulfilling all eligibility criteria for registering the projects with the authority.
“The authority approved the opening of escrow account with any scheduled bank in the respective district where the projects are coming up,” an officer informed.
He further said that this would be applicable for audit of accounts for respective housing projects as well. The authority also directed to look into complaints against those housing projects which are not registered with the regulator for their solutions.
