In response to repeated non-compliance of mandatory submission of annual reports of the real estate projects under construction, the Haryana Real Estate Regulatory Authority (HeRera), Gurugram, has warned real estate promoters to submit annual reports within 30 days to avoid a penalty of ₹5 lakh.
During a recent review meeting the Authority noted that “it is unfortunate that many of the real estate promoters have not yet submitted annual reports of their individual projects, and whom the Authority is now sending show cause notices informing them to submit the same within 30 days to avoid penalties,” it said in a statement.
The Authority order said that failure to file the annual report for under-construction projects is a serious violation of the RERA Act 2016, and “the Authority views it seriously and therefore such promoters have been show caused as to why a penalty of ₹5 lakh should not be imposed on a promoter who fails to file the same in 30 days from the date of issuing of the show cause notice.”
A penalty of ₹10,000 per day in addition to the ₹5 lakh will be imposed on a real estate promoter who fails to file the annual report within 60 days from the date of the show cause notice being sent to him, the statement said.
Read more at: https://www.hindustantimes.com/real-estate/haryana-rera-warns-real-estate-promoters-to-submit-annual-reports-within-30-days-or-pay-rs-5-lakh-fine-101732862684363.html
Credit by: https://www.hindustantimes.com/