September 28, 2023: The Uttar Pradesh Real Estate Regulatory Authority (UP Rera) on September 26, 2023, issued an official statement terming advertisements of Sarvottam World as misleading and fraudulent, mentioning media reports. As per the statement, the regulatory body warned buyers and investors from investing in the company’s upcoming project.
According to the UP Rera, Sarvottam World is advertising the project- Megapolis/Sarvottam Megapolis to be constructed in a hi-tech township named Newoida. These are being promoted across platforms including television, radio, newspapers, online, etc.
Going by the details and description mentioned in the advertisement, UP Rera maintains that no such project is registered with them. Buyers should not be fooled by the UP Rera registration numbers – UPRERAPRJ10825, UPRERAPRJ10851, and UPRERAPRJ11033 mentioned in the advertisements as these belong to another promoter-Uttam Steel and Associate and Ansal Hi-Tech Township as shown below.
This type of advertisement is a violation of the UP Rera rules and is punishable under the Rera Act, 2016.
To avoid investing in fraudulent projects, UP Rera also mentioned that home buyers should always check details about any project that they are interested in investing in on the UP Rera website at https://up-rera.in/verify using the unique UP Rera registration number.
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