MahaRERA Fined Strict Penalty on 8 Builders in Mumbai

The Maharashtra Real Estate Regulatory Authority or MahaRERA has fined up to Rs. 2 Lakh to Rs. 10 Lakh on 8 realty developers as penalty in Mumbai as they were alleged to promote real estate projects without mentioning the website address of the authority and these are not registered yet.

MahaRERA has slapped fine on Suo-Motu basis. Tridhatu Morya is one of 8 real estate developers that paid Rs. 10 Lakh as penalty for promoting a non-registered project. Other seven builders have been fined Rs. 2 Lakh for advertising their projects without mentioning the website of the concerned authority. These seven builders are Ipsit Project, the Wadhwa Group, Jyoti Builders, Haware Properties, Parinee Building

Properties, and Karrm Infrastructure.
Gautam Chatterjee, MahaRERA Chairperson, while charging the penalty, gave a warning to the builders to ensure not to repeat such violation in future. The prospectus or advertisement published or issued by the promoter should mention the authority’s website address which has the details of registered project and also include the MahaRERA registration number of the project, as stated by the section 11(2) of the

Real Estate (Regulation & Development) Act, 2016.
According to section 3(1) of the RERA Act, 2016, a builder cannot market, advertise, sell, book, or offer for sale, or invite anyone to buy any apartment, plot or building, in any way, as the case maybe, in any project or part of it, in any area, unless it is registered with the authority.

Recently, Kabra & Associates is another builder who has been charged with Rs. 12 Lakh by the MahaRERA for violating sections 12, 11(2) and 14 of the RERA Act, 2016. According to Shirish Deshpande, MGP chairman, the builder is alleged to violate several RERA regulations by offering unregistered projects. The builder had also not advertised that it complies with the rules. It means the promoter should displayMahaRERA registration number and website address in their ad. After registering a project, developers should take consent of two-thirds of buyers if they want to make any changes in proposal. It is also violated by Kabra while advertising his project.