In view of the repeated non-compliance of mandatory submission of the annual report of the real estate projects under construction, the Haryana Real Estate Regulatory Authority (Herera), Gurugram, has now warned the city promoters to file the same within 30 days to avoid the strictest penalties.
The Authority said this is unfortunate that many of the real estate promoters have not yet submitted annual reports of their individual projects, and whom the Authority is now sending show cause notices informing them to submit the same within 30 days to avoid penalties.
The Authority order said that non-filing of the annual report of the under-construction projects is a serious violation of the Act 2016, and the Authority views it seriously and therefore such promoters have been show caused as to why not a penalty of Rs 5 lakh be imposed on a promoter who fails to file the same in 30 days from the date of issuing of the show cause notice.
Further, the Authority informed that a penalty of Rs 10, 000 – for every subsequent day in addition to the Rs 5 Lakh will be levied on a real estate promoter, who fails to file the annual report within 60 days from the date of issuing of the show cause notices.
As per the law, real estate promoters are mandatorily required to submit the annual reports of the projects under construction failing which there are strictest provisions of penalties in the Act.
