Uttar Pradesh Real Estate Regulatory Authority (UP RERA) Cracks Down on Deceptive Marketing
In a recent development, the Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has unveiled a deceptive advertising campaign orchestrated by the Sarvottam World promoter. The advertisements, which aggressively promote the “Megapolis, Sarvottam Megapolis” project in the high-tech township of Newoida, have raised serious concerns due to their misleading and fraudulent nature, according to UP RERA officials. As a response to these findings, UP RERA has issued an advisory aimed at cautioning potential investors and homebuyers.
The revelations stemming from this investigation have cast a shadow over the transparency and compliance within the real estate sector in the region. Of particular concern is the fact that the projects being advertised in the campaign are not registered with RERA, further deepening the apprehensions.
UP RERA unearthed an advertising blitz initiated by a promoter going by the name of “Sarvottam World.” This promoter has been actively promoting a real estate project under the banner of “Megapolis, Sarvottam Megapolis” within the confines of the technologically advanced township of Newoida.
The advertisements have been disseminated widely, spanning various media platforms, including newspapers, radio broadcasts, digital channels, and more. However, UP RERA has emphatically categorized these advertisements as “thoroughly misleading and deceptive.” What compounds the issue is that none of the projects touted in these advertisements have been registered with RERA, undermining the transparency and credibility of the campaign.
The advertisements in question prominently feature three registration numbers, namely UPRERAPRJ10825, UPRERAPRJ10851, and UPRERAPRJ11033, registered under the names of other promoters, Uttam Steel and Associates (Consortium), and Ansal High-Tech Township.
Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has taken a firm stance against deceptive advertising campaigns, considering them flagrant violations of the RERA Act regulations. Such misleading promotions not only cast a shadow on the reputation of the real estate sector but also expose potential buyers to the risks associated with fraudulent transactions. In response, UP RERA has invoked the punitive measures outlined in the RERA Act of 2016 to address this issue.
The central goal of UP RERA’s actions is to protect the interests of all stakeholders operating within the real estate sector. UP RERA reaffirms its unwavering commitment to the regulation and advancement of the real estate industry in the state. Given the recent developments, UP RERA urges prospective buyers and investors to exercise due diligence and verify project details by cross-referencing the registered numbers with UP RERA before making any real estate investments. This cautionary approach is aimed at ensuring transparency and safeguarding the interests of all parties involved in real estate transactions.