Gurugram: RERA imposes Rs 25L fine on 5 builders for skipping deadline

Gurugram, December 22

The local office of Real Estate Regulatory Authority (RERA) has imposed a fine of Rs 25 lakh each on five builders-cum-promoters for failing to complete their projects within the declared timelines.

Promoters Penalised

• Identity Buildtech Pvt Ltd for Ansal Highland Park in Sector 103
• BPTP Limited for Park Terra project in Sector 37 D
• KLJ Realtech Private Limited for KLJ Square in Sector 83
• Advance India Projects Ltd for Zen Residences I in Sector 70 A
• Spaze Towers Pvt Ltd for Ishan Singh Commercial in Sector 78

About the Act

Under Section 4(2) (l) (C) of Real Estate (Regulation and development) Act of 2016, a builder/promoter has to move an application with the authority to seek RERA registration and file an undertaking declaring a timeline to complete the project

The builders-cum-promoters were penalised for violating the provisions of Section 4 (2)(l)(C) of the RERA Act. However, the authority has allowed their RERA registration certificates to remain in force till the new timelines, within which these projects have to be completed, subject to payment of penalties within the time mentioned in the respective orders.

Identity Buildtech Private Limited was penalised for failing to meet June 2022 deadline to complete Ansal Highland Park at Sector 103, here. The builders in a fresh application has asked the RERA to extend the deadline till May 2024 to complete the project. The RERA had allowed the registration certificate to be in force till May 2024 in an order issued on December 20.

Similarly, BPTP Limited, which had to complete Park Terra project at Sector 37 D here by April 2022, also missed its declared deadline. However, the RERA had allowed the project’s registration certificate to be in force till April 2024.

KLJ Realtech Private Limited, which was building a project KLJ Square at Sector 83, Gurugram, couldn’t complete the commercial project within the declared timeline of June 2021. Advance India Projects Limited had also missed the deadline of the project Zen Residences I at Sector 70 A, here.

In the order regarding KLJ Square, RERA said, “On the basis of the facts and after considering the reason for the delay in completing the project within the time declared by the promoter and even after the lapse of admissible extension time of one year and also giving an opportunity of hearing in this regard to promoter in the proceeding hearings, the authority, now, has decided to impose a penalty of Rs 25 lakh for violation of Section 4 of the Act.”

The RERA imposed the fine on Spaze Towers Private Limited for failing to complete Ishan Singh Commercial at Sector 78, Gurugram, by 2020. “The authority has decided to permit the registration certificate to remain in force till December 2025 and after considering the reason for the delay in completing the project within the declared time,” the RERA order in this case read.

It is worth noting, under the Section 4(2) (l) (C) of Real Estate (Regulation and development) Act of 2016, a builder/promoter has to move an application with the authority to seek RERA registration and file an undertaking declaring a timeline to complete the project.