Action taken on not getting commercial site registered timely
Estimated project cost around 300.48 crore, 10 percent penalty imposed
Gurugram, 21 January: Gurgoan bench of HRERA headed by the chairman, KK Khandelwal in the presence of the members, namely Sameer Kumar and Subhash Chandra Kush has imposed a fine of Rs 30.48 crore on Oris Infrastructure Pvt Ltd on Tuesday .
Haryana Real Estate Regulatory Authority (HRERA) is now strictly dealing with the wrong builders. Strict action is also being taken against the builders who have defaulted in the rules. In this episode, a builder has been fined Rs.30.40 crore for not registering the commercial site under HRERA on Tuesday.
On Tuesday, a larger Gurgoan bench of HRERA headed by the chairman, KK Khandelwal in the presence of the members, namely Sameer Kumar and Subhash Chandra Kush has imposed a fine of Rs 30.48 crore on Oris Infrastructure Pvt Ltd on Tuesday .
This penalty was imposed for not registering their commercial project. On-going projects where completion certificates have not been issued, as per the rules, they are required to be registered with the authority within three months from the date of commencement under HRERA Act.
The promoters of the projects were to register their projects before July 31, 2017.
What was the matter
Oris Infrastructure Private Limited is developing a commercial project on an area of 9.5 acres in Sector-82-A Gurugram. The license to the promoter was issued in 2008 to develop the project. After 11 years thereafter, nothing has been done on the site yet. Commercial units / plots were sold by the promoter to a large number of buyers and nothing really happened on the site. The buyers felt cheated by the promoter. The promoter intends to forcibly transfer them to another project.
When this matter came to the notice of the authority, the authority has taken action against the promoter. When the records were examined, it was found that the builders were in complete disregard of the law and did not get the ongoing project registered even after the stipulated time and even after two and a half years.
10% penalty for estimated project cost
The estimated project cost is around 300.48 crore and the authority has decided to impose a maximum penalty of 10 percent of the project cost i.e. 30.48 crore.
“This strict action of the authority will give the right signals to the defaulting builders and will increase the confidence of the allottees in the real estate sector due to the extraordinary delay in the real estate sector and the builders’ extraordinary delay in completing the pending projects, said an officer an the condition of anonmity.