Gurugram: The Haryana Real Estate Regulatory Authority (HRERA) on Tuesday imposed a penalty of Rs 30.48 crore against Orris Infrastructure Pvt Ltd for not getting their commercial project registered.
The builder is developing a commercial project in Sector 82A, Gurugram, on an area measuring 9.5 acres.
The HRERA bench headed by Dr KK Khandelwal in the presence of its members Samir Kumar and Subhash Chand Kush imposed the penalty against the erring builder.
The bench said that the licence for development of this commercial project was issued to the promoter way back in the year 2008 and in all these years, nothing has been done on the site so far.
The commercial units were sold by the promoter to a large number of buyers and nothing tangible happened on the site. The buyers were feeling cheated and defrauded by the promoter. The promoter is forcibly trying to transfer them to some other project.
When the matter came to light, the authority took suo-motu action against the promoter and when the record was examined it was found that builder is in complete defiance of the law and did not register the ongoing project in prescribed time, not even, after the lapse of two and half years after that.
The authority took a stern view that maximum penalty needs to be imposed on the builder. The estimated project cost is around Rs 300.48 crore and the authority decided to impose maximum penalty of 10 per cent of the cost of the project i.e. 30.48 crores.
“This strict action of the authority will send right signals to the erring builders and will go a long way in reposing the faith of the allottees in the real estate sector and to assuage their hurt feelings, frustration, disappointment on account of abnormal delay on part of the builder in completing the project. Such exemplary penalties will also act as deterrent for the other builders who remained non-compliant towards the Act of 2016 and the directions passed by the Authority as per the provisions of the Act,” it said.
Notably, ongoing projects where completion certificate has not been issued are required to be registered with the authority within three months from the date of commencement of the RERA Act.
The Real Estate (Regulation and Development) Act, 2016 came into force on May 1, 2017 in its entirety and promoters of incomplete projects were required to register their projects before July 31, 2017.