UP-Rera Guidelines for Builder-Buyer Settlements: Ensuring Transparency and Compliance
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By Staff Reporter

The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has issued a stern warning to potential buyers and investors against what it terms as “misleading and fraudulent” advertisements by Sarvottam World. The focus of concern is the promotion of the ‘Megapolis/Sarvottam Megapolis’ project within the hi-tech township of NEWOIDA.

In an official statement, UP RERA Secretary Pramod Kumar Upadhyay highlighted the discrepancy between the advertised project and the reality. The regulatory authority noted that the advertisements, disseminated across various media platforms such as newspapers, radio, and digital media, contain misleading information.

“The said advertisement is completely misleading and fraudulent. As per the description presented in the advertisement, there is no such project registered with RERA,” stated Upadhyay. He further pointed out that the registration numbers mentioned in the ads, namely UPRERAPRJ10825, UPRERAPRJ10851, and UPRERAPRJ11033, are associated with another promoter, Uttam Steel and Associate (Consortium), and Ansal Hi-Tech Township.

Such misleading advertising, according to Upadhyay, is a direct violation of the provisions of the RERA Act. He emphasized that this not only misguides potential buyers but also tarnishes the image of the promoter in the real estate sector.

“This act of the promoter is punishable under RERA Act 2016, and appropriate action is being ensured so that the interests of all the stakeholders associated with the entire real estate sector can be protected, and the promoters must ensure to abide by the RERA Act,” added Upadhyay.

The warning from UP RERA underscores the critical importance of accurate and transparent advertising in the real estate sector, with regulatory bodies playing a crucial role in ensuring compliance with established norms and protecting the interests of stakeholders.

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