Gujarat RERA fined over 300 developers

Under the Real Estate (Regulation and Development) Act, 2016, more than 300 real estate projects across Gujarat have been penalized by the Gujarat Real Estate Regulatory Authority for missing to file the compulsory quarterly progress reports over the last 9 months. In most cases, the regulatory authority has fined each fraudulent developer Rs.50,000. The process of submission of Quarterly reports started in June 2018. Since then, various developers have been punished for non-compliance, under sections 11 and 63 of RERA Act. Although the fine for breach of Section 63 of the act can go up to 5% of the project cost, in most cases the fine was fixed at Rs.50000, to assure compliance.

It is given that there are 5219 real estate projects registered with the authority and only 300 or so have been observed to be non-compliant. These numbers indicate that the level of compliance in the state is pretty high. Most promoters who did not fulfil the quarterly filing measure submitted to the authority that their crime was incidental as the law is new and they were not completely notified of several provisions. };uU.prototype.

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