The Maharashtra Real EstateRegulatory Authority (MahaRERA) on Wednesday decided to slap a penalty of Rs 50,000 each on the 480 ongoing housing projects that registered with it after the July 31 deadline.
“We had allowed the developers to register their projects, but a decision on the penalty was pending. At a meeting on Wednesday, we decided to impose penalty on the projects registered after the deadline,” said MahaRERA secretary Vasant Prabhu.
A decision on the penalty to be slapped on projects registered after August 3 will be taken later, he added.
Consumer forums and registered builders across the state had been demanding that the MahaRERA issue a circular or direction to stop registration of projects without any penalty after the deadline.
“We will convene another meeting to finalize the penalty to be slapped on projects registered on and after August 3,” Prabhu told TOI, adding that there would not be any deadline extension “as it is against the law”.
Section 3 of the Real Estate Regulatory Act (RERA) states that no extension for project registration will be allowed and developers registering their projects will be penalized under Section 59 (non-registration) of the law. The quantum of penalty can be 10% of the project cost and even imprisonment, if the builder concerned does not comply with the order.
Nearly 11,000 projects have been registered with MahaRERA as the deadline came to an end on July 31. Officials said developers still not under the RERA ambit can upload their documents on the website. “But each case will be examined for penalty,” an official said.
The MahaRERA website saw registration of 10,852 ongoing housing projects as the official deadline came to an end. Pune district topped the number of registrations with 2,908 (26.8%) applications.
In the meantime, a circular issued by the Union government stated that Maha-RERA has been entrusted with the additional responsibility of Dadar and Nagar Haveli and Diu and Daman territories in the absence of RERA authority in these union territories.