Haryana RERA Court Fines Vatika for Breaching Builder-Buyer Agreement

19 Apr 2024 CW Team

In a significant development, the Haryana Real Estate Regulatory Authority (RERA) has imposed a fine on Vatika Limited for breaching the builder-buyer agreement. This ruling highlights the regulatory oversight and enforcement mechanisms in place to safeguard the interests of homebuyers in the state.

The penalty imposed on Vatika Limited underscores the importance of adherence to contractual obligations and transparency in real estate transactions. By holding developers accountable for violations of builder-buyer agreements, Haryana RERA aims to instil confidence among homebuyers and promote fair practices in the real estate sector.

The case against Vatika Limited serves as a reminder to developers regarding the repercussions of non-compliance with regulatory norms and contractual obligations. It reinforces the principle that developers must fulfil their commitments to homebuyers and comply with the provisions of the Real Estate (Regulation and Development) Act.

The fine imposed by Haryana RERA underscores the authority's commitment to upholding consumer rights and ensuring accountability in the real estate market. It sends a clear message that regulatory bodies will take strict action against entities found guilty of flouting regulations and mistreating homebuyers.

As the real estate sector continues to evolve, regulatory interventions such as those by Haryana RERA play a crucial role in maintaining market integrity and protecting the interests of all stakeholders. The imposition of fines on developers for breaching builder-buyer agreements reflects the regulatory vigilance necessary to foster a transparent and responsible real estate ecosystem.

Infrastructure Energy

19 Sep 2025

J&K CM Rules Out Power Privatisation, Focuses on Sector Reform

Jammu and Kashmir Chief Minister Omar Abdullah has dismissed speculation regarding privatisation of electricity in the Union Territory, emphasising that his priority is to strengthen and reform the power sector.“We are not discussing privatisation. By reducing losses, improving billing efficiency, and enhancing revenue, there will be no need for it. My vision is to strengthen and reform the power sector in J&K,” Abdullah stated.He addressed the gathering at the 58th Engineers’ Day at SKICC on Monday evening, an event honouring Bharat Ratna Sir M Visvesvaraya for his pioneering contri..

Mumbai’s Sassoon Dock to Get Tech-Driven Modernisation with Finland

The Maharashtra government, in collaboration with Finland, will modernise Mumbai’s historic Sassoon Dock using advanced technology, state minister Nitesh Rane announced on Wednesday.Rane met a delegation of Finnish officials and representatives of Finnish companies at the dock to discuss strategic plans for upgrading the facility in south Mumbai, according to an official statement.Built in the 19th century, Sassoon Dock is one of Mumbai’s oldest and busiest fishing harbours. Operations currently exceed its original capacity, raising concerns over hygiene, odour, fish handling standards, an..

Agarwal Industrial Wins Rs 3.3 Billion IOCL Bitumen Tender

Agarwal Industrial Corporation rose 3.84 per cent to Rs 945.65 after announcing it had secured a prestigious tender from Indian Oil Corporation (IOCL) worth Rs 3.3 billion.In a regulatory filing during market hours, the company confirmed it had won the tender to supply Bulk Bitumen (VG-30 and VG-40 grades) to IOCL’s Kakinada locations.The firm quantity under the award totals around 60,500 tonnes across 11 parcels, while the optional quantity is approximately 33,000 tonnes across six parcels. This brings the total awarded quantity to roughly 93,500 tonnes. At current market prices, the firm o..