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Gurugram: Rs 5 crore penalty imposed on real estate promoter

Had to apply for RERA registration within three months of the notification of the Act in 2017, but he did so in 2022

Gurugram: Rs 5 crore penalty imposed on real estate promoter


Tribune News Service

Gurugram, July 9

The Real Estate Regulatory Authority (RERA), Gurugram, has imposed a penalty of Rs 5 crore on a city-based real estate promoter, Vatika Limited, for allegedly violating Section 3 (1) of the Real Estate (Regulation and Development) Act, 2016.

Registration mandatory for all ongoing projects

It was an ongoing project, and the promoter should have applied for the RERA registration well on time to avoid penalty. RERA registration is mandatory for all ongoing real estate projects where completion certificates were not issued before the Act coming into force in 2016. — Arun Kumar, Chairman of the authority

The authority observed that Vatika Limited obtained licence for its residential real estate project Vatika India Next in 2013 from the Town and Country Planning (TCP) Department of Haryana. The promoter had to apply for the RERA registration within three months of the notification of the Act in the state in 2017. The authority said the promoter applied for the RERA registration in 2022, five years after the Haryana notification. The RERA took a suo motu action in the matter.

Arun Kumar, Chairman of the authority, said, “It was an ongoing project, and the promoter should have applied for the RERA registration well on time to avoid penalty. RERA registration is mandatory for all ongoing real estate projects where completion certificates were not issued before the Act coming into force in 2016.”

Section 3 (1) of the Act 2016 says, “No promoter shall advertise, market, book, sell or offer for sale or invite persons to purchase in the any manner any plot, apartment, or building, as the case may be, in any real estate project or part of it, in any planning area, without registering the real estate project with the Real Estate Regulatory Authority established under the Act.”

Thereafter, once the promoter submitted all the mandatory approvals for registration of the project, the authority approved the registration of the project. Further, the authority also concluded the penal proceeding for violation of Section 3, which is punishable offence under Section 59 of the Act and imposed a penalty of Rs 5 crore.

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