NexGen Infracon has to Bear a Penalty of Rs. 16 Lakhs for 5 Years Delay in Possession

Because of violating the builder-buyer agreement, UP RERA passed an order in the buyer's favour, and the promoter paid Rs 16 lakhs as a penalty.

A buyer from Delhi booked a flat in Mahagun Mezzaria in Sector 78, Noida, in 2017 and paid Rs. 1.35 Crore to the promoter (NexGen Infracon). According to the promised date, he would have received the flat by December 2018. But, after continuous delay and no resolution from the promoter, the buyer finally went to the Uttar Pradesh Real Estate Regulatory Authority in 2021!

As a penalty for the delay of almost 5 years in possession, UP RERA ordered a fine of Rs. 16 lakhs over the promoter, NexGen Infracon.

Uttar Pradesh Real Estate Regulatory Authority, established in 2017, promotes transparency and protects the buyer's interest. Additionally, it also assists the fast solutions in the case of any dispute among the developers and buyers.

In the case of NexGen Infracon, UP RERA passed the order in favour of the buyer after listening to the complaint, and the promoter had to pay Rs. 16 lakhs, along with the possession of a flat.

According to the officials of UP RERA, if any promoter is not going with the orders they get from the Real Estate Regulatory Authority to any complaints against them or any buyer, then the buyers should inform that case to UP RERA, or they can email on the official website—www.up-rera.in.