RERA gives another chance to promoters for registration

RegistrationBy Accommodation Times Bureau

Real Estate Regulatory Authority (RERA), Punjab has decided to give one more chance to those promoters who have not applied for registration of their projects till the last date i.e. December 31, 2017, to submit their applications for registration of their projects.

The authority calls upon all promoters to avail this opportunity and avoid any punitive action under the law.

Revealing this here today, a spokesman of Punjab Government said that as per provision of section 3 of Real Estate (Regulation and Development) Act, 2016, promoters of the ongoing projects (except those exempted under section 4 of the Act) were required to register their projects with RERA within three months of commencement of the Act i.e. July 31, 2017.  The authority had subsequently extended the last date of registration of projects up to December 31, 2017, he added.

The spokesman further added that many more applications were still being received by RERA for registration and as per information received from various licensing authorities many promoters have not applied for registration of their projects even till date.

“The authority has therefore decided to give one more chance to such promoters to submit their applications for registration of their projects even after extended date i.e. December 31, 2017, on payment of late fees to the tune of 100 percent of the fees payable under Rule 3(4)”, he added

 

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