RERA Advertisement Regulations Breached: 5 UP Builders Face Rs. 1 Lakh Penalty Each
The RERA Act was enacted to protect the interests of homebuyers. By taking action against builders who violate its provisions, UP RERA is sending a strong message that it is committed to ensuring transparency and accountability in the real estate sector.
RERA Advertisement Regulations: UP RERA takes action against builders for promoting and advertising projects without valid RERA registration number.
NEW DELHI (India CSR): The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has recently taken action against five builders for alleged violations of Section 11 of the RERA Act. Attractive Nirman Pvt. Ltd., Basera City Developers, Hallmark Vyapar Pvt. Ltd., Rajeev Son HUF, and Lavish Buildmart Pvt. Ltd. have each been fined Rs. 1 lakh for promoting and advertising their projects without a valid RERA registration number.
Alleged violations: The builders are accused of violating the RERA Act.
Valid RERA registration number: The builders must have a valid registration number from RERA to advertise their projects.
Mixed land-use project: A mixed land-use project is a development that includes a variety of uses, such as residential, commercial, and retail.
Symbolic measure: The penalty amount is relatively small, and is intended to send a message to builders about the importance of complying with RERA regulations.
RERA Advertisement Regulations
Five builders have been flagged by UP RERA for not adhering to the provisions of Section 11 of the RERA Act. The alleged violation pertains to the promotion and advertisement of their respective projects without having a valid RERA registration number. Here’s the list of the builders who have faced the penalty:
Builders must mention RERA registration number and portal in all future advertisements
Following the regulations, promoters and builders are required to mention the UP RERA registration number and its portal when advertising such projects. Lavish Buildmart Pvt. Ltd., however, failed to mention the RERA portal in their advertisement for their mixed land-use project, M3M The Cullinan, situated in Gautam Buddh Nagar. Although the registration number was included, the omission of the RERA portal led to the penalty being imposed.
Builders fined Rs. 1 lakh each
The penalised builders were involved in the promotion of several residential projects. Attractive Nirman Pvt. Ltd. was advertising its residential project, BCC Greens, while Basera City Developers promoted BCC Blue Mountain. Hallmark Vyapar Pvt. Ltd. was responsible for promoting BCC Sapphire, and Rajeev Son HUF advertised Wadhwa Palm Regency. All these projects are located in Lucknow and Agra districts.
The penalty amount of Rs. 1 lakh is considered a symbolic measure
It is worth mentioning that the penalty amount of Rs. 1 lakh is considered to be a symbolic measure. The RERA Act allows for penalties of up to 5 percent of the project cost. However, taking into consideration the circumstances, the authority decided on this amount.
Join our WhatsApp and Telegram Channels to stay updated with the latest CSR news and exclusive updates.
India CSR is the largest media on CSR and sustainability offering diverse content across multisectoral issues on business responsibility. It covers Sustainable Development, Corporate Social Responsibility (CSR), Sustainability, and related issues in India. Founded in 2009, the organisation aspires to become a globally admired media that offers valuable information to its readers through responsible reporting.
India CSR is the largest tech-led platform for information on CSR and sustainability in India offering diverse content across multisectoral issues. It covers Sustainable Development, Corporate Social Responsibility (CSR), Sustainability, and related issues in India. Founded in 2009, the organisation aspires to become a globally admired media that offers valuable information to its readers through responsible reporting. To enjoy the premium services, we invite you to partner with us.
Dear Valued Reader
India CSR is a free media platform that provides up-to-date information on CSR, Sustainability, ESG, and SDGs. They need reader support to continue delivering honest news. Donations of any amount are appreciated.