Roongta Buildcon Fined Rs. 1.5 Lakhs for Violating RERA Advertisement Norms
Maharashtra RERA has fined Roongta Buildcon Ltd. Rs. 1.5 Lakhs for not mentioning the project registration number in their advertisements. #RERA #realestate #Mumbai #RoongtaBuildcon #BusinessPoint #advertising #penalty #compliance #regulations
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has recently taken action against Roongta Buildcon Ltd. for violating the advertisement norms of the Real Estate (Regulation and Development) Act (RERA). The promoter had failed to mention the MahaRERA project registration number in their advertisements published in the Lokmat, Divya Marathi, and Maharashtra Times newspapers. As a result, MahaRERA has imposed a penalty of Rs. 1.5 Lakhs on Roongta Buildcon Ltd.
Roongta Buildcon Ltd. had advertised its project "Business Point," which is situated in Nashik, in the Lokmat, Divya Marathi, and Maharashtra Times newspapers on March 17, 2023. However, the promoter had failed to mention the MahaRERA registration number of the project in the advertisements, as required under section 11(2) of the RERA. This section states that the promoter must prominently mention the registration number of the project in all advertisements or prospectuses issued by them.
Show Cause Notice MahaRERA had issued a show cause notice to Roongta Buildcon Ltd. on March 20, 2023, for violating the advertisement norms of RERA. In response, the promoter submitted a reply on March 27, 2023, admitting to the violation and requesting leniency from MahaRERA.
A hearing was scheduled on April 17, 2023, through video conferencing, as per MahaRERA Circular No. 27/2020 and MahaRERA Order No. 593/2023. However, during the hearing, the promoter remained absent, and the necessary orders were passed based on the submissions made in the reply dated March 27, 2023, by Roongta Buildcon Ltd.
MahaRERA has imposed a penalty of Rs. 1.5 Lakhs on Roongta Buildcon Ltd. under section 61 of the RERA for violating section 11(2) of the act. The promoter is obligated to pay this penalty within 15 days from the date of the order, failing which a further penalty of Rs. 1,000 per day would be imposed until compliance. The Technical and Finance Department of MahaRERA will verify the payment of the penalty before processing any applications, such as extension, correction, change of name, etc., with respect to the project.
In conclusion, complying with the provisions of RERA is essential for all real estate promoters, and any violation of the same can lead to penalties and consequences. In the case discussed above, Roongta Buildcon Ltd violated section 11(2) of the RERA by not prominently mentioning the MahaRERA registration number in their newspaper advertisements. As a result, a penalty of Rs. 1,50,000/- was imposed upon them by the Maharashtra Real Estate Regulatory Authority. This case highlights the importance of adhering to the regulations laid down by RERA and ensuring complete transparency in all real estate dealings.
Note: The information provided in this article about Maharashtra Real Estate Regulatory Authority (MahaRERA) is for informational purposes only. It is not intended as legal or professional advice and readers should consult qualified professionals for advice specific to their circumstances.
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