UP RERA warns against misleading advertisements by Sarvottam World

04 Oct 2023 CW Team

The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) denounced the promotional materials released by Sarvottam World, deeming them as "misleading and fraudulent." The UP RERA issued a stern warning to potential buyers and investors regarding Sarvottam World's upcoming project.

According to an official statement, the UP RERA identified a real estate project called 'Megapolis/Sarvottam Megapolis' within a technologically advanced township known as 'NEWOIDA.' This project was being vigorously advertised by the promoter, 'Sarvottam World,' across various media platforms, including newspapers, radio, and digital media.

"In this matter, we find it imperative to inform and caution all stakeholders within the real estate sector that the aforementioned advertisement is entirely deceptive and fraudulent. Contrary to the claims made in the advertisement, no such project is registered with RERA," stated UP RERA Secretary Pramod Kumar Upadhyay.

The registration numbers mentioned in the advertisements - UPRERAPRJ10825, UPRERAPRJ10851, and UPRERAPRJ11033 - actually belong to a different promoter, Uttam Steel and Associate (Consortium), and Ansal Hi-Tech Township, Upadhyay revealed.

"This kind of promotional activity by the promoter constitutes a violation of the provisions outlined in the RERA Act. Such advertising efforts can tarnish the promoter's reputation among stakeholders in the sector and may lead to injustices against prospective buyers," cautioned Upadhyay.

He added, "The promoter's actions are subject to penalties under the RERA Act of 2016, and we are taking appropriate measures to safeguard the interests of all stakeholders associated with the real estate sector. Promoters must adhere to the provisions of the RERA Act."

The UP RERA emphasised its dedication to regulating and advancing the real estate sector within the state. Additionally, it urged potential buyers and investors in the real estate sector to exercise caution. Before making any purchases or investments in a project, they should verify all project-related information using the registration number provided in the advertisement, which is available on the RERA portal at www.up-rera.in. Only after due diligence should they make their decisions.

The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) denounced the promotional materials released by Sarvottam World, deeming them as misleading and fraudulent. The UP RERA issued a stern warning to potential buyers and investors regarding Sarvottam World's upcoming project. According to an official statement, the UP RERA identified a real estate project called 'Megapolis/Sarvottam Megapolis' within a technologically advanced township known as 'NEWOIDA.' This project was being vigorously advertised by the promoter, 'Sarvottam World,' across various media platforms, including newspapers, radio, and digital media. In this matter, we find it imperative to inform and caution all stakeholders within the real estate sector that the aforementioned advertisement is entirely deceptive and fraudulent. Contrary to the claims made in the advertisement, no such project is registered with RERA, stated UP RERA Secretary Pramod Kumar Upadhyay. The registration numbers mentioned in the advertisements - UPRERAPRJ10825, UPRERAPRJ10851, and UPRERAPRJ11033 - actually belong to a different promoter, Uttam Steel and Associate (Consortium), and Ansal Hi-Tech Township, Upadhyay revealed. This kind of promotional activity by the promoter constitutes a violation of the provisions outlined in the RERA Act. Such advertising efforts can tarnish the promoter's reputation among stakeholders in the sector and may lead to injustices against prospective buyers, cautioned Upadhyay. He added, The promoter's actions are subject to penalties under the RERA Act of 2016, and we are taking appropriate measures to safeguard the interests of all stakeholders associated with the real estate sector. Promoters must adhere to the provisions of the RERA Act. The UP RERA emphasised its dedication to regulating and advancing the real estate sector within the state. Additionally, it urged potential buyers and investors in the real estate sector to exercise caution. Before making any purchases or investments in a project, they should verify all project-related information using the registration number provided in the advertisement, which is available on the RERA portal at www.up-rera.in. Only after due diligence should they make their decisions.