The UP RERA has cancelled 3 projects in Gaziabad for non-compliance and violation of Sections 4 and 11 and Rule No. 3 and 14 of the RERA Act, by the promoters i.e., Antriksh Realtek Private Limited.
The allottees had complained against the promoter under Section 31 of the RERA Act, for violation of the agreement. After receiving the complaint, the RERA Authority inspected the project site and found that the completion of the project is uncertain and that the development of the project is only 40% even after 7 years.
The promoter has failed to update the physical and financial progress of the project on the website of the authority. Only one quarterly update was updated by the promoter i.e., for the period January 2019 to March 2019, which is nil. He also failed to provide the audited balance sheet, which he has to update within 6 months from the end of every financial year. For non-compliance, the authority imposed a fine on the promoter which was violated since by the promoter for not paying the fine.
The sanctioned plan issued by the concerned authorities expired in 2020. Renewal of the plan was also not obtained by the promoter or uploaded on the RERA website.
These circumstances and situations prove prima-facie basis to believe the negligence of the work done by the promoter.
In the exercise of the power confirmed under Section 7 of the Act, UP RERA Authority cancelled the project Antriksh Sanskriti (Phase-2), developed by Antariksh Realtek Private Limited with immediate effect.
The promoter is also banned from using the website of UP RERA website and has been declared a defaulter. His bank account has been seized. A committee has also been created wherein the allottees will also be the members of the committee to complete the remaining developmental work in the project.
Similarly, other projects have also been cancelled by the UP RERA i.e., Antriksh Sanskriti Phase-3 and Raksha Vigyan Sanskriti Phase-2 developed by Antriksh Realtek Private Limited and Raksha Vigyan Karmchaari Sahkaari Aawas Samiti Limited.