Six developers fined for not backing RERA norms

Penalty amount to increase up to 5 percent of total project cost in case offence is repeated

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has imposed penalties of Rs 2 lakh to Rs 12 lakh to at least six developers for not following norms under RERA act while publishing their advertisements. This comes after the Chairman of Mumbai Grahak Panchayat filed a complaint against these developers.

These developers had not published their RERA registration number or the website name where the details of their project have been posted. “These six developers failed to abide by the provisions mentioned under the section 3 and section 11 (2) of the MahaRERA act. Few developers had published their advertisements without being registered under the RERA act which came into force on May 1, 2017,” said Shirish Despande, Chairman of Mumbai Grahak Panchayat. MahaRERA has imposed penalties to six developers named Goodtimes, Lashkaria Housing, Rikki Ronie, Ashar Realtors, Puraniks and Kabra and Associates. Repat 5 percent project cost

“The authorities have imposed penalties to these six developers. In case the developers repeat the offence, RERA would impose penalties up to 5 percent of total project cost,” added Deshpande. According to section 11 (2) of the RERA act, the developers are required to prominently display the registration number once they are registered with RERA.

“Few developers did not mention the website name of the RERA where the projects of developers have been posted. This is important in terms of potential buyers who would want to know about the developers track record, project details, pending litigation and the time line of the said project work. These details are required while booking a flat,” added Deshpande.

Mumbai Grahak Panchayat is set to submit at least 31 more advertisements put up by developers who have failed to follow the norms listed under the RERA act. “We will submit the 31 advertisements to MahaRERA in a few days time. I appreciate MahaRERA to have taken swift action against these developers,” added Deshpande.

These developers had not published their RERA registration number or the website name where the details of their project have been posted