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Rs.50,000 fine on late RERA registrations - Tollybeats

Rs.50,000 fine on late RERA registrations

Updated | August 6, 2017 16:30 IST

The MahaRERA has decided to impose a fine of Rs.50,000 on each real estate project which registered beyond the deadline. The last date for the RERA registrations is on 31st July 2017.

Those who registered beyond this date will liable to pay a fine of fifty thousand rupees. Gautam Chatterjee, who chaired a meeting with the authority members BD Kapadnis and Vijay Satbir Singh has decided to impose the penalty on promoters who registered under RERA after the deadline, 31st July midnight.

There are 480 real estate projects which registered after the deadline. As said above, the authority decided to impose the penalty on these projects which registered on the dates 1st and 2nd August respectively, said MahaRERA secretary, Vasant Prabhu. At the stroke of midnighton 31st July, a total of 1,0542 real estate projects and 7,525 real estate agents were registered on Maharashtra government’s RERA portal.

The highest number of registrations were made by the cities Mumbai and Pune. The Suburban registrations were more than 2,097 projects whereas in the Mumbai city with 567 projects. Coming to other cities, Pune with more than 2,908 projects, Thane(1,529), Raigad(994), Palghar(698) and Nashik(427).

Till now, 23 states notify under RERA. Among these states, Maharashtra, Gujarat, Madhya Pradesh, Punjab, and Rajasthan were ahead in implementing and notifying the rules of RERA by setting up regulatory authority and launched an online portal for promoters to register their projects.

 

Keywords: RERA, MahaRERA, Maharashtra, penalty on RERA late registrations, MahaRERA imposes penalty on late RERA registrations

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