[ecis2016.org] The Real Estate Regulatory Authority of Punjab has decided to give another chance to promoters, to register their projects, despite the deadline having lapsed, by paying late fees to the tune of 100 per cent
The Real Estate Regulatory Authority, Punjab, has decided to give one more chance to those promoters, who had not applied for registration of their projects till December 31, 2017. The authority has asked such promoters to submit applications for registration of their projects and avoid punitive action.
You are reading: Punjab gives another chance to developers, to register under RERA
A spokesman of the Punjab government said that as per provision of Section 3 of the Real Estate (Regulation and Development) Act, 2016 (RERA), promoters of the ongoing projects (except those exempted under Section 4 of the Act) were required to register their projects within three months of the commencement of the Act on July 31, 2017. The authority subsequently extended the last date of registration of projects, up to December 31, 2017, he added.
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He added that many more applications were still being received by the authority for registration and as per information received from various licensing authorities, many promoters had not applied for registration of their projects even till date. “The authority has, therefore, decided to give one more chance to such promoters to submit their applications for registration of their projects, even after the extended date – December 31, 2017 – on payment of late fees to the tune of 100 per cent of the fees payable under Rule 3(4)”, he added.
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