Gurugram Real Estate Promoter Faces Rs 1.5 Crore Penalty for Non-Compliance

The Haryana Real Estate Regulatory Authority (HRERA) in Gurugram has penalized M/s 1000 Trees Housing Pvt Ltd with a fine of Rs 1.5 crore for failing to register its project even after 12 years of acquiring the necessary licence. The penalty was levied after the promoter filed for project registration to finalize construction and hand over units to buyers.

The Haryana Real Estate Regulatory Authority (HRERA) in Gurugram has slapped a Rs 1.5 crore penalty on the city-based real estate promoter, M/s 1000 Trees Housing Pvt Ltd, for failing to register its project even after 12 years of obtaining the required licence.

The fine was imposed following a thorough scrutiny of the promoter's application for project registration, intending to complete construction and hand over units to homebuyers.

According to the rules, post licence acquisition from the competent authority, registration with HRERA is compulsory before creating third party rights and running advertisements. The authority has conditionally approved the project, pending the payment of late fees and the penalty, as stated in the HRERA order. 'A penalty of Rs 1.5 crore is also imposed under Section 59 of the Act for non-registration of the ongoing project,' the order mentioned.

(With inputs from agencies.)