UP RERA threatens legal action against Investors Clinic for violating real estate regulations in Noida project

UP RERA has taken suo moto action against Investors Clinic for contravention of rules in the promotion of the M3M Group project without proper registration and valid RERA registration number. The regulatory authority has issued notices to all real estate agents engaged in the project's promotion and marketing, excluding the promoter. Investors Clinic has been given an opportunity to provide clarification, failing which legal action will be taken against them. It is important for real estate agents and promoters to adhere to the regulations set forth by RERA to ensure transparency and protect the interests of stakeholders in the real estate sector.

Updated Jun 14, 2023 | 01:55 PM IST

UP RERA threatens legal action against Investors Clinic for violating real estate regulations in Noida project (Representative image)

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The Uttar Pradesh Real Estate Regulatory Authority (RERA) has issued a ‘public notice’ to Investors Clinic , a real estate agent, for allegedly violating rules in the promotion of a project by M3M Group based in Noida. The notice comes after representatives of Investors Clinic failed to appear at a scheduled hearing in the matter on June 12, as directed by UP RERA . The regulatory authority has warned of legal action if the real estate agent fails to present a clarification by June 17.
Violation of Rules and Show Cause Notice
Investors Clinic, registered as an agent, was initially issued a show cause notice by UP RERA on June 3 concerning the promotion and publicity of the ‘ M3M The Cullinan ' project in Noida Sector 94. The notice requested the agent to appear via video conferencing on June 12 at 3 pm to present their side. However, the real estate agent neither provided any clarification regarding the violations nor attended the scheduled hearing.
Warning and Final Hearing
In response to the agent's non-compliance, UP RERA has asked Investors Clinic to present its clarification at its headquarters in Lucknow, either in person or via email, before 5 pm on June 17. The regulatory authority has also set a final hearing for June 19 via video conferencing. If the company fails to present its clarification, it will be considered that they have nothing to say. UP RERA will then take action based on the available evidence and in accordance with the law.
Violation of real estate regulations
According to a RERA official, the violations pertain to the promotion of the project before its registration with the state's real estate regulator. The promotion of any real estate project by a registered agent without mentioning a valid RERA registration number is deemed unlawful under the provisions of the RERA Act. The official noted that Investors Clinic's actions are against the interests of stakeholders in the real estate sector.
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