The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has directed the development authorities of Noida, Greater Noida, Yamuna Expressway and Ghaziabad to prepare a list of all those group housing projects which are yet to get registered with the regulatory authority. It has asked the authorities concerned to convey that failing to do so will compel the UP-RERA to impose a hefty penalty on such developers.
“The regulatory authority has started the process of bringing in all such pending projects under its purview. Taking a step further, it has asked the development authorities concerned to inform the developers to get their projects registered,” said Balvinder Kumar, member of UP-RERA.
Registration of housing projects with RERA is mandatory following which the regulatory authority is authorised to initiate action against a particular developer on the basis of home buyers' complaint if any.
“There are many developers across these cities who have failed to comply with the norms. A notice will be issued to them in this regard. Non-compliance will force them to pay a fine of 10 per cent of the total cost of the project,” Kumar added.
“There are housing projects which are pending and the developers are absconding. The dejected home buyers, who have already paid money and waiting to get the possession of their flats, are not hopeful of getting back their hard-earned money. In such cases, the housing project will be identified and the competent authority will be told to seize the project,” Balvinder Kumar concluded.