UP RERA rejects registration of THESE 2 new Supertech projects
The decision has been taken over Supertech's failure to complete its projects already registered in RERA and for failure to comply with the orders of the Authority granting relief to homebuyers, it said.
The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) on Thursday said it has decided to reject the registration application of two of the projects of developer Supertech Ltd.
The decision has been taken over Supertech's failure to complete its projects already registered in RERA and for failure to comply with the orders of the Authority granting relief to homebuyers, it said.
See Zee Business Live TV Streaming Below:
However, the RERA said it has decided to grant the promoter a second opportunity to re-apply for registration of these two projects after he has been able to substantially comply with the previous orders of the Authority.
"The UP RERA in its 63rd meeting held on June 24 under the chairmanship of Rajive Kumar decided to reject the application for registration of two proposed projects of Supertech Ltd, namely Golf Country GH01- Phase-1A and Golf Country GH01- Phase-1B using its powers under Section 5 of RERA read with section 4(2)(B) and section-11(4)(B)," RERA Secretary Rajesh Kumar Tyagi said.
"It has been done in view of the fact that the promoter failed to complete large number of its projects within the timeline declared to RERA and has also failed in making compliance of large number of orders passed by the Authority on the complaints filed by the home buyers of the projects of the promoter company," he said in a statement.
The Authority, before arriving at this decision, had given the promoter personal hearing on June 23, Tyagi said.
He noted that the Authority had called for a detailed compliance report of its orders and a convincing action plan to complete its projects from the promoter.
"During the hearing, R K Arora, chairman of the company, told the Authority that the company was trying to complete the projects and also to make compliance of the orders of the Authority," he said.
"The Authority did not find written or oral responses of the promoter satisfactory and arrived at the conclusion that it shall not be appropriate and, further, it shall not be in the interest of the home buyers to grant registration of two new projects of the company when it has not been able to complete large number of its project already registered with RERA," he added.
He also said the company has also defaulted in making compliance of large number of orders passed by the Authority granting relief to aggrieved homebuyers of the firm.
RERA Chairman Rajive Kumar said the promoter has not been complying with the orders of the Authority and there has not been any "discernible improvement" in the status of compliance of the pending orders at the end of the promoter.
"The promoter has also not been able to give a convincing action plan to complete its ongoing projects, as a result of which a very large number of homebuyers of the promoter are pushed to come to Authority with complaints for relief," Kumar said.
The promoter has not only failed to give momentum to its projects, it has also failed in complying with the orders of the Authority, thereby further compounding the miseries of homebuyers, he added.
Kumar further said, "It was paramount for the Authority to protect the interest of homebuyers and to ensure the provisions of the Act and the Rules from promoters."
"The Authority shall do everything with its power to ensure justice to the home buyers and compel the promoters to complete their lingering projects," he added.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
EPFO Pension Schemes: Early pension, retirement pension, nominee pension and 4 other pension schemes that every private sector employee should know
Tata Motors, Muthoot Finance and 3 more: Axis Direct recommends buying these stocks for 2 weeks; check targets, stop losses
07:30 PM IST