Uttar Pradesh RERA: During UP-RERA review, it was found that out of 1,810 promoters, only 666 promoters have uploaded details of director for correspondence. The authority has issued approximately 130 notices to promoters in violation of advertisements rules.
Suncity Hightech Infrastructure: Sanjay Bhoosreddy, chairman, UP-RERA said, "During virtual hearing we come across such matters in which both parties want to settle matter mutually. Hence, we transfer such matters to the Conciliation forum where the Conciliator mediates in the matter for settlement."
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The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has requested the State Level Bank Committee (SLBC) to prevent banks from providing debit card, cheque book, and net banking facilities to the promoters of real estate projects in order to prevent fund diversion. UP RERA has mandated that the bank account should only be in the name of the main promoter, and banks should ensure that funds are used exclusively for the construction and development of the specific project.