Punjab RERA wakes up to bite

Punjab RERA wakes up to bite
17/09/2018 , by , in News/Views

Unscrupulous builders of Punjab stare at huge penalties and even imprisonment for ignoring notices sent by the regulator. Armed with adequate information, the Real Estate Regulatory Authority (RERA) of Punjab has issued an ultimatum to 190-odd builders.

“Notices sent to 191 builders returned unanswered. While some might not have actually received it, there are many who would have deliberately avoided it. We have given them the last opportunity,” said Sanjiv Gupta, member, RERA-Punjab. The non-compliance (with the Act) will invite trouble for the defaulters, he said.

Under the RERA Act, the regulator can impose a penalty up to 10 per cent of the project cost. Besides, the non-compliance of its orders or directions is punishable with up to three-year imprisonment or another 10 per cent penalty, or both.

The authority has also issued notices to 483 builders who have been evading registration of their projects under the RERA-Punjab. Unscrupulous builders do not want to register their commercial or residential projects to evade the new law, which prohibits the regulator to act against unregistered projects. The unregistered projects include completed and under-construction projects and those yet to receive completion certificates. Builders cannot, however, avoid registration in perpetuity.

The regulator is now acting against unregistered projects. “Initially, we were busy putting up the system. Now, we are enforcing provisions of the Act,” Gupta said. He said of the 483 notices, responses have been received from several developers and 159 cases have already been disposed off.

About admin

Loading...