PUNE : The Maharashtra Real Estate Regulatory Authority (MahaRERA) ) has levied a fine of Rs 18.30 lakh on 90 developers across the state, including 34 from Pune, for publishing advertisements without registration numbers.
Among the other developers, 52 are from Mumbai , while four are from Nagpur. "These 90 builders are among the total 197 developers who have been issued notices for violation of Real Estate (Regulation and Development) Act, 2016. While fines have been levied on 90 developers, the remaining are in the hearing process," a senior MahaRERA official said on Friday.
According to MahaRERA officials, in some advertisements, developers failed to mention the registration number clearly or in the required font size. Under RERA, the advertisement issued by the developer should mention the registration number clearly to help homebuyers make an informed decision on investing in such projects.
"We have already recovered Rs 11.85 lakh from the developers and the remaining would have been told to pay the fine at the earliest," the official said. The hearing of the cases is being conducted not just in the Mumbai head office, but also in Pune and Nagpur regional offices to cover the fines.
Earlier, MahaRERA had specified that developers will have to pay the penalty amount within 15 days. Those who do not pay the amount within the stipulated time period, will have to pay an extra Rs 1,000 per day ...Read more...