Haryana RERA Imposes Penalty on Countrywide Promoters

• 25 Apr 2024

Why in News?

Recently, Haryana real estate regulatory authority (HRERA), Gurugram, has imposed a penalty of Rs 50 lakh on Countrywide Promoters Private Limited for publishing a misleading advertisement.

Key Points

• According to the authority, despite mandatory provisions under Section 11(2) and 13(1) of the Real Estate (Regulation and Development) Act 2016 the promoter did not describe the details in a proper manner in the advertisement, which is a punishable offence under the Section 61 of the Act.
• Countrywide Promoters Private Limited is developing an affordable plotted colony under Deen Dayal Jan Awas Yojna Affordable Plotted Housing Policy 2016 after it obtained RERA registration in 2021.

Haryana Real Estate Regulatory Authority (HRERA)

• Under the Real Estate (Regulation and Development) Act, 2016, Government of Haryana has notified The Haryana Real Estate (Regulation and Development) Rules, 2017 which came into force from 28 July 2017.
• Its objectives is as follows:
  • To regulate the real estate sector for its harmonious growth and development.
  • To bring transparency in the dealings between the promoters of real estate projects and buyers of apartments.
  • To ensure that the real estate projects are completed within the prescribed time frame
  • To resolve disputes relating to the projects expeditiously.
  • To enforce the provisions of law and the orders of the Authority.

Real Estate (Regulation and Development) Act (RERA), 2016

• It is an act passed by the Parliament in 2016 that came into effect fully from 1^st May, 2017.
• It seeks to protect home-buyers as well as boost investments in the real estate sector by bringing efficiency and transparency in the sale/purchase of real estate.
• The Act establishes Real Estate Regulatory Authority (RERA) in each state for regulation of the real estate sector and also acts as an adjudicating body for speedy dispute resolution.