RERA imposes Rs.50 lakh fine for advertising without RERA registration
It is mandatory for real estate projects to obtain RERA registration. Action will be initiated against managements, which fail to obtain the RERA registration for their properties.
Hyderabad: The TS Real Estate Regulator Authority (TS RERA) on Friday imposed a fine of Rs.50 lakh on Jayatri Infrastructure (Jaya Group), AGS Srinivasam Properties Private Limited (AGS Group) and Engineers Association Private Limited for marketing and advertising about their project at Kollur without the mandatory RERA registration.
It is mandatory for real estate projects to obtain RERA registration. Action will be initiated against managements, which fail to obtain the RERA registration for their properties.
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The above mentioned project did not obtain the RERA registration and the authority issued the show cause notices seeking explanation from the management.
As the management failed to give any explanation, a fine of Rs.50 lakh was imposed, said a statement issued by the authority.
