The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has taken a decisive stance against Sarvottam World’s advertising campaigns, declaring them as “misleading and fraudulent.” The UP RERA’s actions have sent shockwaves through the real estate sector, bringing attention to ‘Megapolis/Sarvottam Megapolis,’ a project located within the innovative ‘NEWOIDA’ township, allegedly promoted by ‘Sarvottam World.’ These advertisements have been extensively disseminated across various media platforms, including print, radio, and digital channels.
In an official statement released on September 27, 2023, at 08:32 AM IST, the UP RERA delivered a clear and resolute message. According to the regulatory authority, the advertisements associated with ‘Megapolis/Sarvottam Megapolis’ are not only misleading but also fraudulent. Pramod Kumar Upadhyay, Secretary of UP RERA, expressed grave concern over the matter and emphasized the need to alert all stakeholders within the real estate sector.
One of the most alarming revelations is the absence of proper registration for the ‘Megapolis/Sarvottam Megapolis’ project. Upadhyay explicitly stated that, “As per the description presented in the advertisement, there is no such project registered with RERA.” This raises serious questions about the authenticity of the project and underscores an attempt to deceive potential buyers and investors.
Furthermore, the registration numbers mentioned in these advertisements – UPRERAPRJ10825, UPRERAPRJ10851, and UPRERAPRJ11033 – do not correspond to Sarvottam World but rather belong to another promoter, Uttam Steel and Associate (Consortium), and Ansal Hi-Tech Township. This discrepancy not only casts doubt on the project’s credibility but also constitutes a clear violation of the RERA Act.
The UP RERA has made it abundantly clear that such deceptive advertising practices will not go unpunished. Upadhyay stressed that “This act of the promoter is punishable under the RERA Act 2016, and appropriate action is being taken to protect the interests of all stakeholders in the real estate sector.” The regulatory body is unwavering in its commitment to ensuring accountability and preserving the industry’s integrity.
In its closing remarks, the UP RERA reiterated its dedication to regulating and advancing the real estate sector in the state. It also issued a vital piece of advice to potential buyers and investors, urging them to exercise utmost caution and conduct thorough due diligence before making any property-related decisions.
Prospective stakeholders are strongly encouraged to verify project details through the official registration number, available on the RERA portal (www.up-rera.in). This simple yet critical step can help individuals avoid falling victim to deceptive and fraudulent schemes that could result in significant financial losses.
In conclusion, the UP RERA’s vigilance and unwavering commitment to transparency, accountability, and consumer protection within the real estate sector serve as a beacon of hope for all stakeholders. As the industry moves forward, it is imperative that such regulatory measures continue to safeguard the interests of buyers and investors, ensuring a fair and trustworthy real estate market.