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A Chembur-based real estate consultant has become the first firm to be penalised by the newly formed Maharashtra Real Estate Regulatory Authority (MahaRERA). In a Monday order, the Authority ordered Sai Estate Consultant to pay Rs 1.2 lakh as fine for a misleading advertisement of an ongoing construction project.
The Authority’s order states that the consultant was guilty of advertising a project which is yet to be registered with it. Advertising for sale of flats in projects that are not registered with the Authority is a violation under the rules of the regulatory body, which came into effect on May 1.
According to the order, the company had advertised an unregistered ongoing project of Haware builders in Thane. Besides the fine, the orders require the agent to withdraw the advertisement and restrain from promoting it in absence of the Authority’s registration.
It has also been asked to tender an apology. The action comes following a complaint in this regard from consumer activist outfit, the Mumbai Grahak Panchayat.
In a statement issued on Monday, the activist outfit said, “We welcome this bold order, and hope builders and real estate agents learn lessons from it.”