Chandigarh: Register within a month or face penalty, builders told
Dushyant Singh Pundir
Chandigarh, June 23
To protect the interests of buyers in real estate, the Real Estate Regulatory Authority (RERA), Chandigarh, has asked developers, builders, etc., to register their projects with RERA in a month or face a penalty. So far, only six projects have been registered in the city.
May have to pay 10% of project cost
An official stated that failure to register such projects with the Real Estate Regulatory Authority (RERA) will invite a penalty up to 10% of the estimated cost of the project as per the Act.
According to a public notice issued by RERA, real estate projects developed or being developed by promoters, builders, developers, individually or in collaboration, anywhere in Chandigarh for the purpose of sale or long lease, require compulsory registration with RERA before advertisement, marketing, booking, selling or offering for sale or inviting any person to purchase in any manner as per Section 3 of the Real Estate (Regulatory Development) Act, 2016.
As many as four categories of projects fall under the Act any real estate project being developed in full or part, either by making flats or floors or apartments or shops or commercial/office units, godown, etc., on a plot size of more than 500 sq m; any real estate project that entails construction of more than 8 flats, floors, apartments, shops, commercial/office units, godown, etc., on any size of plot; any real estate project envisaging plotting on land area of more than 500 sq m; and any real estate project falling in the above categories in respect of which completion certificate was not issued by the competent authority on or before April 30, 2017.
An official stated that failure to register such projects with RERA will invite a penalty up to 10% of the estimated cost of the project as per the Act.
Buyers purchasing any flat, floor, apartment, shop, office/commercial space, godown, etc., in real estate project falling in any of the categories mentioned in the Act must ensure that the project is registered with RERA, Chandigarh, to prevent fraud and delays.
The official said maximum projects were coming in the rural areas of the city. “If developers or builders fail to register their projects, the authority will take notice of the complaints received against any unregistered project, get it verified and take action accordingly,” said the official, adding that action would also be initiated against plotting being carried out on agricultural land.
