Stay updated with the latest - Click here to follow us on Instagram
Tags:
Journalism of Courage
A real estate developer was fined Rs 50 lakh for not mentioning its RERA registration number in an advertisement on the front page in a daily newspaper. Maharashtra Real Estate Regulatory Authority (MahaRERA) chairperson Gautam Chatterjee, in an order last week, fined Piramal Realty Rs 50 lakh for a violation of Section 11(2) of the Real Estate (Regulation and Development) Act.
The Section 11(2) states that “the advertisement or prospectus issued or published by the promoter shall mention prominently the website address of the Authority, wherein all details of the registered project have been entered and include the registration number obtained from the Authority”.
The regulatory body had found an advertisement dated March 31 in violation of this section and taken suo motu cognizance of the matter. A hearing was called on April 5.
The order stated that the advertisement did not mention the MahaRERA registration number on the front page of the advertisement for a project in Mahalaxmi.
The regulator accepted the promoter’s contention that the violations were unintentional and directed it to pay Rs 50 lakh as fine, the highest fine imposed by RERA so far. Email and phone calls to Piramal Group remained unanswered, despite repeated attempts.
Stay updated with the latest - Click here to follow us on Instagram
