RERA to fine over 480 projects in Maharashtra for not adhering to deadline

Aug 04, 2017

The Real Estate Regulatory Authority (RERA) of Maharashtra decided to fine the projects that did not adhere to the July 31st deadline.  Over 480 builders will now have to pay Rs 50,000 as fine. Under section 3 of the RERA, no extension for registration was made available and is liable to a penalty that could go up to 10% of the project costs or imprisonment in case of non-compliance.  The Union government also entrusted the Maharashtra RERA with the Union territories of Dadra and Nagar Haveli, Daman and Dui in absence of the necessary authorities in their regions.

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