GURUGRAM: The Haryana Real Estate Regulatory Authority (HRERA) of Gurugram has imposed a Rs 1.5 crore penalty on city-based real estate promoter M/s 1000 Trees Housing Pvt Ltd for not registering its project even after 12 years of obtaining the relevant licence.
The penalty was imposed after scrutiny of the application of the promoter seeking registration of the project to complete construction and hand over units to homebuyers.
As per rules, after obtaining licence from the competent authority, it is mandatory for a promoter to register its project with HRERA before creating third party rights and advertisements, a statement said.
The authority, however, has approved the project in principle subject to payment of late fees and the penalty, it said.
“A penalty of Rs 1.5 crore is also imposed under Section 59 of the Act for non-registration of the ongoing project,” said the HRERA order.
