Noida Real Estate Promoter Fined Rs 16 Lakh For Delay In Handing Over Flat

Due to the delay in allocating a flat to a resident in Delhi, the promoter of Mahagun Majoria has been ordered by the Real Estate Regulatory Authority to pay Rs 16 lakh as a fine to the resident. This person received possession of the flat from the promoter of a Noida housing development five years later than expected. The buyer reserved a condo in Noida’s Mahagun Majoria, Sector-78, in 2017, according to the Uttar Pradesh Real Estate Regulatory Authority (UP-RERA). It made a payment of Rs 1.35 crore to the project’s promoter, Nexgen Infracon. The promoter was supposed to deliver the flat in December 2018, according to a statement from the authority. However, following repeated delays in receiving the flat, the buyer contacted RERA in 2021. According to a RERA official, after initially failing the 2018 deadline of handing over the flat to the buyer, the promoter had assured to hand over the flat in 2021. But it failed the 2021 deadlines as well, following which, the dispute was brought before RERA for resolution because the promoter was unable to fulfil the terms of the builder-buyer agreement. After hearing all of the points, UP RERA decided in the home buyer’s favour.