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12 developers fined for advertising projects without registration number
Maharashtra Real Estate Regulatory Authority has fined 12 developers in the state a collective sum of INR 5.85 lakh ($8,100) for advertising their projects without a registration number. The developers, including one in Mumbai and two in Pune, failed to comply with the provisions of the Real Estate (Regulation and development) Act, which mandates that projects larger than 500 sq m or with a minimum of eight flats must register with the housing regulator, displaying the registration number and portal link in any promotional material.
Mumbai: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has imposed a fine of ₹5.85 lakh on 12 developers from across the state for advertising projects without a registration number.
Taking suo motu cognisance of the issue, MahaRERA took up hearings of these developers and imposed the collective fine of ₹5.85 lakh. The developers include five from Nashik, four from Chhatrapati Sambhaji Nagar, two from Pune and one from Mumbai.
Under the provisions of Real Estate (Regulation and development) Act (RERA), it is mandatory for projects larger than 500 square metre or minimum eight flats to register with the housing regulator and the registration number and portal link has to be displayed in any promotional material.
Previously, the authority had sent 54 show cause notices to developers for not complying with the provision. The authority then took up hearings of 15 projects. Out of them, 11 developers had the MahaRERA registration number, but did not display the same in their advertisements. One developer was fined ₹1.5 lakh, seven were fined ₹50,000 each and three were fined ₹25,000 each. One developer who displayed the registration number, but in a barely readable font size was fined ₹10,000.
A MahaRERA official said, “The developers must pay the fine within 15 days and after that the amount will increase by ₹1,000 per day. Those failing to comply will not be able to use any MahaRERA services.”
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