UP RERA has imposed a fine amounting to Rs.1 Crore on ANSAL API for the non-compliance of orders passed by the authority.
The act was introduced to curb the mal-practices and the abuses caused to the customer. The act intends to protect the interests of the consumers and regulate the real estate sector.
The RERA Act empowers the Regulatory authority to call for information or conduct investigations. These investigations have been mainly in the form of financial audit conducted by the auditors.