MahaRERA penalised unregistered projects

By Rohit Sharma

MUMBAI

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has penalised 1,716 real estate projects for delaying their project registration.

The MahaRERA recently released a list of penalised projects in which the fine varied from Rs 50,000 to Rs 10 Lakh. The Real Estate Regulatory Authority Act, 2016 directs the promoter and real agents to register with the authority and it also makes sure that homebuyer is aware of details of the projects.

According to the list revealed by the authority, the projects which were fined are now registered with the regulator. The list includes three projects which are with the maximum amount of the penalty of Rs10 lakh, whereas over 1000 projects have been levied fine of Rs 1 lakh and over 409 projects are penalized for 50,000 and rest for 1-9 lakh.





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