The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has issued a warning to prospective buyers and investors about misleading and fraudulent advertising by Sarvottam World regarding their 'Megapolis/Sarvottam Megapolis' project in the 'NEWOIDA' hi-tech township. UP RERA Secretary Pramod Kumar Upadhyay expressed concern, stating that the project mentioned in the advertisements is not registered with RERA, and the registration numbers provided belong to other promoters. Such misleading advertising violates the RERA Act of 2016 and can harm prospective buyers. UP RERA urged buyers to exercise due diligence and verify project details using the registration number provided on the RERA portal before making decisions.
The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has taken a stern stance against what it deems "misleading and fraudulent" advertising by Sarvottam World, issuing a warning to prospective buyers and investors regarding their upcoming project.
The controversy centres around a real estate project known as 'Megapolis/Sarvottam Megapolis' within the confines of the hi-tech township called 'NEWOIDA.' Sarvottam World, the promoter, has been aggressively promoting this project across various media platforms, including newspapers, radio, and digital media.
In an official statement, UP RERA Secretary Pramod Kumar Upadhyay expressed grave concern, stating, "We feel compelled to inform and caution stakeholders in the real estate sector that the aforementioned advertisements are entirely deceptive and fraudulent. Contrary to the claims made in the ads, there is no record of such a project being registered with RERA."
The registration numbers mentioned in Sarvottam World's advertisements, namely UPRERAPRJ10825, UPRERAPRJ10851, and UPRERAPRJ11033, are associated with another promoter, namely Uttam Steel and Associate (Consortium) and Ansal Hi-Tech Township, according to Upadhyay.
"This type of promotional activity by the promoter constitutes a violation of the provisions outlined in the RERA Act. Such misleading advertisements can tarnish the promoter's reputation among stakeholders in the sector and potentially cause harm to prospective buyers," Upadhyay added.
He emphasized that such actions by the promoter are punishable under the RERA Act of 2016, and appropriate measures are being taken to protect the interests of all stakeholders in the real estate sector, with promoters being urged to adhere to the RERA Act.
The UP RERA reaffirmed its commitment to regulating and developing the real estate sector within the state. It also made a heartfelt appeal to prospective buyers and investors to exercise due diligence before making any commitments, advising them to verify project details using the registration number provided in the advertisement, available on the RERA portal at www.up-rera.in, before making any decisions.
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