The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has imposed stringent penalties on prominent real estate developers, including Mahagun and Gaursons, for non-compliance with regulations. This move comes in response to numerous complaints from homebuyers.
Up ReraReal EstateMahagun GroupGaursons RealtechHomebuyersReal Estate MaharashtraSep 29, 2025
The Real Estate (Regulation and Development) Act, 2016, is a law in India designed to regulate the real estate sector, enhance transparency, and protect the interests of homebuyers. It mandates that developers register their projects with the Real Estate Regulatory Authority (RERA) and adhere to strict guidelines.
UP RERA took action against real estate developers due to numerous complaints from homebuyers regarding non-compliance with the Real Estate (Regulation and Development) Act. Issues such as uploading incorrect information, failing to rectify discrepancies, and not following procedural requirements led to the imposition of fines and legal action.
UP RERA sanctioned several developers, including the Mahagun Group, Gaursons Realtech, and the Mahalaxmi Group. These developers faced penalties for various breaches of the Real Estate (Regulation and Development) Act.
The penalties imposed by UP RERA include fines and legal action. The penalties are outlined under Sections 13, 61, and 63 of the Real Estate (Regulation and Development) Act, holding developers accountable for their non-compliance.
These actions by UP RERA are expected to benefit homebuyers by enhancing transparency, ensuring project compliance, and protecting their rights. The strict measures will deter developers from flouting regulations and contribute to a more stable and reliable real estate market.
Real estate services startup, Justo Realfintech, has signed developer mandates of over Rs 1,400 crore in the first two months of Financial Year 2024-25.
Shriram Properties plans to enter the Pune real estate market this year, with Bengaluru, Chennai, Kolkata, and Pune playing key roles in its growth. The company aims to double sales and triple revenue by 2027.
India's data center market is expected to reach $5 billion by 2024, driven by rapid digitalization and increasing demand for data storage. This growth presents lucrative opportunities for small-cap stocks to capitalize on the expanding market.
The Indian real estate market is facing significant challenges, making it less viable for middle-class families. Here's why housing is no longer a smart investment for them.
Housr, a leading provider of co-living spaces, is set to expand its operations to Chennai and Mumbai, aiming to cross Rs 200 crore in revenue by FY26. Currently operational in five cities, the company is focusing on catering to the growing demand for co-l
Nagpur has witnessed a surge in tensions following the burning of the Quran, leading to the arrest of over 50 individuals and the filing of 5 FIRs. The incident has sparked widespread protests and unrest, drawing significant attention from local authoriti