Mumbai: Developers fined for not disclosing MahaRERA number

Mumbai: Developers fined for not disclosing MahaRERA number

MahaRERA has made it mandatory to flash registration numbers even on the advertisement posted on social media, else penal action will be initiated.

FPJ News ServiceUpdated: Thursday, April 20, 2023, 09:07 PM IST
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A dozen developers have been penalised by the Maharashtra Real Estate Regulatory Authority (MahaRERA) for marketing their realty projects without the mandatory regulatory registration number. As per data shared by a MahaRERA spokesperson, the penal action included a fine of ₹10,000 to ₹1.5 lakh.

Henceforth, MahaRERA has made it mandatory to flash registration numbers even on the advertisement posted on social media, else penal action will be initiated.

Developers from all parts of Maharashtra

These penalised developers are from different regions of Maharashtra, including Mumbai. While five developers are from Nashik, four are from Aurangabad, two from Pune and one from Mumbai.

According to the Immovable Property Act, any project of more than 500 sqmt or eight flats is required to be registered with MahaRERA and no project can advertised, marketed or booked without the registration number.

MahaRERA sends notices to 54 projects

So far, MahaRERA has suo moto sent such notices to 54 projects in the state. These developers were given one week to present their case. “We heard 15 of these projects in the first phase and took penal action against 12; 11 of these were fined even though they had MahaRERA registration number but did not print it in the advertisement,” said an official.

He added that one developer has been fined ₹1.5 lakh, seven were penalised ₹50,000 each and three of them ₹25,000 each. One of these developers was fined ₹10,000 for printing the registration number in very small letters.

While MahaRERA is taking measures to ensure projects are registered with them, there are several players in the state who continue to do normal business without registering their projects with the regulator.

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