The Maharashtra Real Estate Regulatory Authority (MahaRERA) has penalised 12 developers for Rs 5.8 lakh for advertising projects without the mandatory MahaRERA registration number.
The booked developers are from Pune, Mumbai, Nashik and Aurangabad. While one developer has been fined Rs 1.5 lakh, seven are fined Rs 50,000 each and three are fined Rs 25,000 each. Also, even though a developer had displayed the MahaRERA number, it was in a font that was not clearly readable. He was fined Rs 10,000.
The MahaRERA sent show-cause notices to 54 projects in Maharashtra that didn’t follow this rule and conducted hearings of 15 projects. Action was taken against 12 developers.
According to the RERA Act, all projects that are more than 500 sqmt or consisting of eight or more flats have to be registered with the MahaRERA. It is compulsory for developers to display the MahaRERA registration number and website details on all promotional materials.
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