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Rs 2 lakh penalty to be imposed for late registration under Maha RERA

Mumbai: Maharashtra RERA authorities, in a meeting held on Friday, decided to increase the penalty for registration of ongoing projects registered from September 1-30 to Rs 2 lakh or an amount equivalent to double the registration fee, whichever is more, subject to a ceiling of Rs 10 lakh.

The order was issued by MahaRERA chief Gautam Chatterjee and members Bhalchandra Kapadnis and Vijay Satbir Singh. The RERA authorities had set a penalty of Rs 1 lakh till August 16, and as per the order on Friday, the same amount will be levied till August 31.

The Real Estate Regulation Act prohibits ongoing unregistered projects from advertising and selling with effect from August 1. MahaRERA has stated that delaying the registration of the ongoing projects would jeopardize the interest of allottees of the said projects since the details of such projects would not be available in public domain for scrutiny and further filing of complaints.

The order issued on Friday also states that if a promoter does not agree to pay the aforesaid penalty, his application shall be processed under section 5 (1) (b) of RERA.

With registrations of ongoing projects touching more than 13,000, MahaRERA had earlier issued rules of penalty till August 16. Officials from MahaRERA had said that while they would be open to registrations of ongoing projects, they would decide on the penalty amount after a meeting. Officials from MahaRERA said applications received after September 30 would be processed as per provisions of section 5(1) (b) of RERA, 2016.

As per section 3(1) of RERA, no promoter shall advertise, market, book, sell or offer for sale or invite persons to purchase in any manner any plot, apartment or building without registering the real estate project with RERA. These projects should be ongoing on May 1, 2017, and for which the completion certificate has not been issued.

Source TimesNow

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