The Real Estate Regulatory Authority (RERA) will take action and issue notices against those developers who have submitted incomplete documents for registering their ongoing construction projects under the RERA Act.
“There are nearly 200 ongoing projects whose developers have not deposited complete documents. Within the given deadline, these developers will have to deposit the remaining documents along with penalty. The project will be cancelled and termed as ‘illegal’ if required documents are not provided to RERA,” According to the RERA official.
After the RERA Act came into effect, agents and developers were provided 90 days to register. According to the source, 428 projects have been issued a certification to them after registering under the Act. During the inspection, nearly 200 ongoing projects did not submit complete documents. Due to this authority has given final seven days time to upload the documents.
According to an official, “The defaulters were given second chance and asked to submit documents within 15 days. But, developers did not follow extended warning too. Now, the RERA has decided to take stringent action and cancel the project.”
“As per the rules, it is mandatory to provide 30 days’ time to the developer before taking action. This would be considered as a final warning as the authority had given time to the developer,” he added.
According to UDH official, the RERA has been introduced with an aim to bring more transparency in the existing system and protect the interest of home buyers. It was said an appellate tribunal will also be set up to adjudicate disputes. However, till date, no complaint of the consumer has been registered by the authority in absence of clear guidelines.