Rs. 36 Lakh fine has been imposed to the real estate agent for contrary to the provisions of the RERA Act

Lucknow: For promotion and advertisement of unregistered project 'Migsun Janpath' and 'Boulevard Walk' located at Shaheed Path, Uttar Pradesh Real Estate Regulatory Authority has imposed fine to the real estate agent M/s Investors Clinic Infratech Pvt Ltd, Lucknow.

Due to violation of RERA Act, 2016 and UP RERA Rules in the advertisement, fine of Rs. 10,000 per day (about Rs.36 lakh) has been imposed from the date of advertisement (19-07-2021) and in case of non-deposit of the entire amount of fine in UP RERA within one month, this amount will be recovered under section-40(1) of RERA Act, will be treated as arrears of revenue.

A show cause notice was issued by UP RERA to M/s Investors Clinic Infratech Pvt Ltd on 02-08-2021 that they were promoting the unregistered project 'Migsun Janpath' and 'Boulevard Walk' through various means and the provisions of the Act-2016 are being violated.

The agent was being informed that his act is punishable under Section-62 of the RERA Act. He was instructed to submit his explanation by 10-08-2021.

On not responding to the notice, the agent was again sent a notice on 13-08-2021. An opportunity of hearing by the Authority was sought in the reply furnished by the agent.

Supplementary notice was sent to the agent on 02-09-2021 that 'Migsun Janpath Project' is not registered in UP RERA and his function is under Section 9(7) and 10 of RERA Act and agent issued under UP RERA Rules, 2016. violation of the terms and conditions of the Registration Certificate. The Authority has given an opportunity of personal hearing to M/s Investors Clinic Infratech Pvt Ltd. The reply of the agent was not found satisfactory.

It was found that the RERA Act is being violated by M/s Investors Clinic Infratech Pvt Ltd by promoting unregistered projects in UP RERA, 'Migsun Janpath' and 'Boulevard Walk'. The allegations mentioned in the show cause notice were also not replied to by the agent in his explanation.

Therefore, in exercise of the powers conferred by RERA under Section-38 of RERA Act, after due consideration, Section 9 and 10 of RERA Act, on real estate agent M/s Investors Clinic Infratech Pvt. for violation of the terms and conditions of Agent Registration Certificate issued under UP RERA Rules 2016 and relevant provisions of UP Real Estate Regulation and Agreement for Development Sale / Lease Rules, 2018 updated from the date of advertisement, penalty at the rate of Rs. 10,000/- per day was imposed.

The agents were also ordered by RERA that the rebuttal of the advertisements in question would be published in the same size and type at their own expenses in the same newspapers in which they were published earlier. Till the publication of this disclaimer advertisement the penalty at the rate of Rs. 10,000/- per day will continue. The agent will have to deposit the entire amount of fine with the UP RERA within one month of this order and in case of failure to do so; the amount of fine will be recovered as arrears of land revenue.