Recently, A Real Estate Developer was fined for Rs 50 lakh for advertisement violation. The developer didn’t mention the RERA registration number on the front page of advertisement in a daily newspaper. Gautam Chattarjee, Chairperson of Maharashtra Real Estate Regulatory Authority fined Piramal Realty for Rs 50 lakh. The RERA act of Section 11(2) was violated in the advertisement.
RERA Complaints act section 11(2) mentions that “advertisement or prospectus issued by promoter shall mention the website address of authority where all the details of registered project have been entered and registration number from authority should be obtained”.
The advertisement dated March 31 in violation and SUO MOTU cognizance of this matter has been taken, the hearing was on April 5. The order stated that MAHARERA Registration number was not mentioned on the front page of Mahalakshmi Daily.
The regulatory accepted the promoter’s contempt or act that the violations were unintentional and promoter was directed to pay Rs 50 lakh fine which is the highest fine from RERA to anyone.