Nagpur: In order to provide relief to property purchasers, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has decided to impose fine those who make mistakes 12 times while registering their projects. For this purpose, a notification has been issued in this regard. With this decision, the shortcomings in registration process will be reduced.
To remove the delay in registering the building construction project, make the registration process transparent and to avoid repeated mistakes by the builders while completing this process, now a provision has been made in MahaRERA to fine those who make mistakes again and again.
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Thursday 26 Sept. 2024
According to the notification announced by MahaRERA, construction professionals who do not submit proper documents while registering their project for the fourth time will be fined 25% of the registration fee and for the fourth time the builder who fails to give the required documents and details will be charged with the registration fee with 40% penalty to be paid. This penalty will be applicable to Real Estate Projects, Real Estate Agents and Project Expanders who do not follow the guidelines.
Apart from this, even after paying a 40% fine, after following the instructions given at the time of ‘scrutiny’, after submitting the application, that application will be sent to the authorities. According to the real estate experts, the registration documents will be checked with the new instructions. Time will be saved.
There is an atmosphere of mistrust among the customers about the house construction project, it is necessary to take care of the life-long earnings, so that there is no fraud while investing in the house. Efforts are being made continuously in the last few years and steps are being taken in this regard.
