The Uttar Pradesh Real Estate Regulatory Authority (UPRERA) has issued notice to real estate developer M3M India Private Limited for its NOIDEA project in Gautam Buddh Nagar over violation of the RERA Act. As per an official statement, the authority has found that the developer has not completed the RERA registration of its project NOIDEA and has started promotion and marketing for the sale of the units in the project, which is a direct violation of Section 3 of the RERA Act.
As per Section 59 of the RERA Act, the promoter is liable to pay a penalty of up to 10 per cent of the project cost and a jail term of up to three years, the authority said.
UP RERA observed that there was evidence of the promoter continuously trying to take the project to the general public through various mediums. The project at Gautam Buddh Nagar will be investigated under the RERA Act, the statement said. Preliminary investigation found violation of Section 3 of the RERA Act as promotion of the project is being carried out without registration and action will be taken as per law, it said.
UP RERA Secretary, Rajesh Kumar Tyagi, said that the RERA Act had been enacted to protect homebuyers’ interests and develop the real estate sector, so any arbitrariness committed by the developers before the enactment of the RERA Act will be dealt with strict action. He further added that if any other promoters of the state are found involved in such violations, there will be no delay in the actions.
RERA registration is not required in real estate projects where the area of land proposed for development does not exceed 500 square meters or the number of apartments proposed does not exceed eight inclusive of all phases.
Developer M3M said in an official statement, “We would like to clarify that the campaign which is being projected in NOIDA, Uttar Pradesh, is purely an extension of M3M’s corporate campaign to bring awareness and sensitise people about the presence of M3M in the city. We have at no point publicised the project.”
See also: All you need to know about UP RERA
Harini is a content management professional with over 12 years of experience. She has contributed articles for various domains, including real estate, finance, health and travel insurance and e-governance. She has in-depth experience in writing well-researched articles on property trends, infrastructure, taxation, real estate projects and related topics. A Bachelor of Science with Honours in Physics, Harini prefers reading motivational books and keeping abreast of the latest developments in the real estate sector.
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