UP-RERA issues notice to Investors Clinic over violations in M3M's Noida project
The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has issued a notice to Investors Clinic, a real estate marketing firm, over alleged violations in M3M's Noida project.
The notice was issued on June 13, 2023, after a complaint was filed by a group of homebuyers who alleged that Investors Clinic had misled them about the project.
The complainants alleged that Investors Clinic had promised them that the project would be completed by December 2022, but it is still under construction. They also alleged that the company had not provided them with any information about the status of the project.
In its notice, UP-RERA has asked Investors Clinic to provide a detailed explanation of the violations within 10 days. The authority has also asked the company to refund the money to the complainants who have not yet received their flats.
Investors Clinic has denied the allegations and said that it is committed to delivering the project on time. The company has also said that it will cooperate with UP-RERA in its investigation.
This is not the first time that UP-RERA has issued a notice to a real estate marketing firm over alleged violations. In the past, the authority has also issued notices to firms such as Unitech, Amrapali, and Lodha Group.
The increasing number of complaints against real estate marketing firms is a sign of the growing problems in the real estate sector. The sector is plagued by delays in project completion, cost overruns, and poor quality of construction.
The government needs to take steps to address these problems and protect the interests of homebuyers. The government should also ensure that real estate marketing firms are regulated and held accountable for their actions.
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