Noida: Uttar Pradesh Real Estate Regulatory Authority (Rare) said on Tuesday that it has banned the realty firm Ansal API From the sale or transfer of any residential property in its Hi-Tech Township project in Greater Noida in violation of norms.
A separate penalty of Rs 3.05 crore has been imposed on a real estate developer for misappropriating Rs 60.57 crore collected from home buyers in three separate projects. UP RERA Said.
according to a decision of Above RERA dated June 26, 2023 There were complaints that promoter M/s Ansal API was illegally selling certain areas of Hi-Tech Township without registering with UP RERA.
According to an official statement, the regulatory body in a meeting held on December 12, 2020, using its powers under the RERA Act and UP RERA Rules, had decided to investigate the promoter’s affairs with respect to this township.
“The promoter was given several opportunities to furnish necessary information vide show cause notice dated December 26, 2020 and subsequent notices, culminating in the final notice dated April 1, 2023… The promoter was also given several opportunities of being heard given, but still he did not do so.” UP RERA said, do not provide necessary information and details supported by evidence.
The authority said, “On the basis of whatever documents and details were submitted by the promoter, UP RERA concluded that the promoter was selling large tracts of land without registering it with RERA and was continuously violating the pious provisions of the RERA Act. Had been.”
Therefore, UP RERA said that through its interim order dated June 19, 2023, it has decided to “restrain the promoter from any sale and transfer in the township until further orders” and directs him to comply with its decision and order. also instructed. 26 June 2023.
UP RERA vide a separate decision in its meeting dated 19th June, 2023, which was issued vide its order dated 26th June, 2023, for contravention of the provisions of Section 4 (Application for Registration) of the RERA Act 3.05 It has been decided to impose a fine of Rs. project) and 11 (functions and duties of the promoter), others.
“The decision was taken by UP RERA based on the findings of the forensic audit report of Ansal API’s three projects, Ansal Business Park, Ansal Business Park-II and Golf Residency, in which it was found that the promoter misappropriated an amount 60.57 crore was collected from the home buyers,” the regulatory body said.
“Promoter is directed to deposit this amount with UP RERA within 30 days, else it will be recovered as arrears of land revenue through District Magistrate. UP RERA has given this amount of Rs 60.57 crore to the promoter. The amount has been directed to be deposited in the escrow account. Details of the respective projects within 30 days,” it added.
According to UP RERA officials, Ansal API has 100 projects registered across the state, of which 88 are in Lucknow, six in Agra and the rest in Noida, Greater Noida and Ghaziabad districts.
A separate penalty of Rs 3.05 crore has been imposed on a real estate developer for misappropriating Rs 60.57 crore collected from home buyers in three separate projects. UP RERA Said.
according to a decision of Above RERA dated June 26, 2023 There were complaints that promoter M/s Ansal API was illegally selling certain areas of Hi-Tech Township without registering with UP RERA.
According to an official statement, the regulatory body in a meeting held on December 12, 2020, using its powers under the RERA Act and UP RERA Rules, had decided to investigate the promoter’s affairs with respect to this township.
“The promoter was given several opportunities to furnish necessary information vide show cause notice dated December 26, 2020 and subsequent notices, culminating in the final notice dated April 1, 2023… The promoter was also given several opportunities of being heard given, but still he did not do so.” UP RERA said, do not provide necessary information and details supported by evidence.
The authority said, “On the basis of whatever documents and details were submitted by the promoter, UP RERA concluded that the promoter was selling large tracts of land without registering it with RERA and was continuously violating the pious provisions of the RERA Act. Had been.”
Therefore, UP RERA said that through its interim order dated June 19, 2023, it has decided to “restrain the promoter from any sale and transfer in the township until further orders” and directs him to comply with its decision and order. also instructed. 26 June 2023.
UP RERA vide a separate decision in its meeting dated 19th June, 2023, which was issued vide its order dated 26th June, 2023, for contravention of the provisions of Section 4 (Application for Registration) of the RERA Act 3.05 It has been decided to impose a fine of Rs. project) and 11 (functions and duties of the promoter), others.
“The decision was taken by UP RERA based on the findings of the forensic audit report of Ansal API’s three projects, Ansal Business Park, Ansal Business Park-II and Golf Residency, in which it was found that the promoter misappropriated an amount 60.57 crore was collected from the home buyers,” the regulatory body said.
“Promoter is directed to deposit this amount with UP RERA within 30 days, else it will be recovered as arrears of land revenue through District Magistrate. UP RERA has given this amount of Rs 60.57 crore to the promoter. The amount has been directed to be deposited in the escrow account. Details of the respective projects within 30 days,” it added.
According to UP RERA officials, Ansal API has 100 projects registered across the state, of which 88 are in Lucknow, six in Agra and the rest in Noida, Greater Noida and Ghaziabad districts.