Noida project first to be deregistered by UP-Rera While Rera benches have taken several steps against defaulting builders across the country, this is perhaps the first time that a housing project has been deregistered in India.

The regulatory authority deregistered Aranya phases 3, 4 and 5 under Section 7 of the Rera Act.

NOIDA: Unnati Fortune’s Aranya, located in Noida’s Sector 119, has become the first housing project to be de-registered by the Uttar Pradesh Real Estate Regulatory Authority (UP-Rera), a move that is likely to affect some 2,000 buyers who have been waiting for a period ranging between three and five years for their homes.

While Rera benches have taken several steps against defaulting builders across the country, this is perhaps the first time that a housing project has been de-registered in India. UP-Rera officials said this was the first such move under the new real estate law.
The regulatory authority de-registered Aranya phases 3, 4 and 5 under Section 7 of the Rera Act after the developer failed to come up with a satisfactory response to the notices before the UP bench. The project, which began in 2007, is valued over Rs 1,500 crore.

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