Bihar RERA imposes heavy penalty on Builders
Continuing its crackdown on unscrupulous builders, the Real Estate Regulatory Authority (RERA)-Bihar has slapped penalty of Rs 32 lakh and Rs 27 lakh on Aryavart Lifespaces Private Limited and Patligram Builders Private Limited, respectively, for non-compliance of the provision of Section 3 of the Real Estate (Regulation & Development) Act 2016.
The order was issued by the RERA bench of Rajiva Bhushan Sinha and Subodh Kumar Sinha earlier this week. RERA-Bihar member R B Sinha said this is the first time that such a heavy fine is imposed on any builder in the state.
The RERA-Bihar has warned the builders against repeating such violation in future and asked them to pay the fine within 60 days of the issuance of the order.