Builders can apply for project registration afresh, sans late fee

a major relief to builders of on-going projects whose registration application had been rejected, the Punjab Real Estate Regulatory Authority (P-Rera), has decided to exempt such projects from paymentof late fee, in case they file afresh for project registration with it.

The late fee is 100% of the normal registration fee.

Under Section 3 of the Real Estate (Regulation and Development) Act, 2016, promoters of ongoing projects (except those exempted under Section 4 of the Act) were required to register their projects with state real estate regulatory authority within three months of the commencement of the Act, that is, July 31, 2017.

The authority had extended the last date of registration to December 31, 2017.

Giving another chance to promoters who didn’t register their ongoing projects till December 31, 2017, the authority allowed them to register with it after payment of late fee which is 100% of the fees payable under Rule 3(4) of the Punjab real estate (regulation and development) rules 2017.

LATE FEE IS 100% OF THE NORMAL REGISTRATION FEE; THE AUTHORITY HAD EXTENDED THE LAST DATE TO DECEMBER 31, 2017

Section 5 allows the authority to either allow registration of a project or reject the application for reasons to be recorded in writing, if such application does not conform with the provisions of the Act.

“The authority rejected a few applications, either for not conforming with the provisions of the act or rules or on account of the deficiencies pointed out by the authority not being removed by the promoter despite various reminders,” said a P-Rera official, on the condition of annymity.

Some such promoters are filling applications for fresh registration.

“The authority has considered the issue of fee payable by such promoters and decided that in their case, no late fee as mentioned above would be levied. They would be liable to pay only the normal fee,” said the official.