Regional

Rs 40 crore penalty imposed on Haryana realtors

IANS | February 06, 2020 01:52 PM

CHANDIGARH: A penalty of nearly Rs 40 crore has been imposed and proceedings have been initiated against 58 other colonisers in Haryana, an official said on Thursday.
With issue of show-cause notices, the penalty amount may go up to Rs 300 crore, a spokesperson for the Haryana Real Estate Regulatory Authority told IANS.

The authority, which came into being on February 5, 2018, has undertaken a campaign against the builders who are selling plots and apartments in unauthorized colonies. Seven such cases are under investigation, he said.

It has issued 509 penalty notices to builders who have defaulted in compliance of provisions of the real estate law.

On the completion of two years, Haryana Real Estate Regulatory Authority Chairman K.K. Khandelwal said: "Our effort in the last two years has been to develop a robust and transparent real estate sector."

"The efforts of the authority also help the promoters due to revival of market. Those who comply with the law will be helped and their rights and interests will be protected and those who break the law may have to face the music."

A total of 9,496 complaints have been filed out of which 6,598 re-addressed.

A total of 1,812 compliance orders have been issued and 249 cases are pending.


Have something to say? Post your comment