Mumbai: RERA fines 1,716 projects, raises Rs 18 crore in revenue

The authority can fine developers 10 per cent of the total project cost if they delay in registering their ongoing projects Representational PictureSince its inception the Maharashtra Real Estate Regulatory Authority MahaRERA has penalised developers of 1716 projects with amounts ranging between Rs 50000 and Rs 10 lakh for delay in registering with the authority This has helped it to earn over Rs 18 crore revenue only through fines As per the RERA Act its compulsory to register ongoing projects with the authority within 90 days failing to which it restricts the sale of ready housesAlso read Bombay High Court starts hearing constitutional challenges to RERAThe authority came into existence on May 1 last year and has registered over 13000 projects across the state There are over 10000 brokers registered with it as mandated by the RERA ActThe regular fee charged to developers is Rs 10 per sqm with Rs 10 lakh being the maximum amount charged as registration fee Brokers on the other hand have to shell out Rs 10000 for registering with RERA While those delaying in registration were charged between Rs 50000 and Rs 10 lakh as penalty the authority can also fine developers 10 of the total project costAlls not fineThe ongoing projects defaulting on the registration process were brought under the authoritys purview during the nearly twomonth extension that was given to developers after the 90day deadline had ended Developers had requested the authority to be lenient at the start and hence the amount charged in the beginning was Rs 50000RERA has released a statement giving the list of projects for which developers were fined The statement showed 1046 projects that had delayed in registering and were fined Rs 1 lakh and 410 projects wherein developers had to pay Rs 50000 the minimum penalty for those who came forward for registration during the first extension given in August Three developers were penalised Rs 10 lakh None of the three projects are in Mumbai though Officials said the revenue collected would be used for strengthening the authoritys administrative worksDevelopers due diligenceA senior official from the authority said The details have already been put up on the official website If a developer had three projects and he failed to register those he was penalised three times the amountMahaRERA chief Gautam Chatterjee told midday to get in touch with the authoritys secretary Vasant Prabhu However despite several attempts Prabhu remained unavailable for comment Dr Vijay Sathbir Singh a RERA official said The list online will be updated periodically as we keep receiving complaints about developers defaulting on registration It is important for everyone to register with RERA to avoid their name being put up onlineCatch up on all the latest Mumbai National and International news hereDownload the new midday Android and iOS apps to get updates on all the latest and trending stories on the go