+
Haryana RERA penalises coral realtors for unregistered mall promotion
Real Estate

Haryana RERA penalises coral realtors for unregistered mall promotion

The real estate regulatory authority, RERA, has fined Coral Realtors, a realtor based in the city, Rs 5 million for neglecting to register its ongoing project with the authority. An official stated that the realtor incurred the penalty due to advertising and creating third-party rights in the project before its registration.

As per an official statement, the Authority deemed it a clear violation of Section 3 of the Act in 2016. The order mentioned, "Therefore, the Authority decides to impose a penalty of Rs 5 million. The registration certificate will be issued only after receipt of the penalty."

Coral Realtors is currently constructing the Metro World Mall, a commercial project in Sector 56, Gurugram. Section 3 of the RERA Act mandates the registration of a real estate project before establishing third-party rights.

The Act in 2016, Section 3, states, "No promoter shall advertise, market, book, sell or offer for sale, or invite persons to purchase in any manner any plot, apartment or building, as the case may be, in any real estate projects or part of it, in any planning area, without registering the real estate project with the real estate regulatory authority established under this Act."

According to the order, Coral Realtors, the promoter, applied for the project's registration with RERA, Gurugram, only after the Authority initiated a separate Suo Motu proceeding upon taking cognizance of the matter.

The real estate regulatory authority, RERA, has fined Coral Realtors, a realtor based in the city, Rs 5 million for neglecting to register its ongoing project with the authority. An official stated that the realtor incurred the penalty due to advertising and creating third-party rights in the project before its registration. As per an official statement, the Authority deemed it a clear violation of Section 3 of the Act in 2016. The order mentioned, Therefore, the Authority decides to impose a penalty of Rs 5 million. The registration certificate will be issued only after receipt of the penalty. Coral Realtors is currently constructing the Metro World Mall, a commercial project in Sector 56, Gurugram. Section 3 of the RERA Act mandates the registration of a real estate project before establishing third-party rights. The Act in 2016, Section 3, states, No promoter shall advertise, market, book, sell or offer for sale, or invite persons to purchase in any manner any plot, apartment or building, as the case may be, in any real estate projects or part of it, in any planning area, without registering the real estate project with the real estate regulatory authority established under this Act. According to the order, Coral Realtors, the promoter, applied for the project's registration with RERA, Gurugram, only after the Authority initiated a separate Suo Motu proceeding upon taking cognizance of the matter.

Next Story
Infrastructure Urban

CJ Logistics’ Global CEO visits India to align growth strategy

Jonathan Song, newly appointed CEO of the Global Business Division at South Korea-based CJ Logistics, concluded a strategic three-day visit to India from July 29 to 31, reinforcing the company’s long-term commitment to the market through its subsidiary, CJ Darcl Logistics Ltd. Mr Song held high-level discussions with the CJ Darcl leadership and key customers to understand India’s evolving logistics needs, identify synergy areas, and enhance business alignment. His visit highlighted the strategic significance of India in CJ Logistics’ global network, especially amid the country’s g..

Next Story
Real Estate

Max Towers secures five star rating in safety audit by British Council

Max Estates, a leading NCR-based real estate developer, has achieved a five star rating in its first attempt at the British Safety Council’s ‘Five Star Occupational Health and Safety’ Audit for Max Towers, its premium commercial office project in Noida. The grading reflects the organisation’s commitment to the continual improvement of its occupational health and safety systems. The comprehensive audit covered documentation, interviews with senior management and employees, stakeholder feedback, and rigorous sampling of on-ground activities. It assessed performance against best prac..

Next Story
Real Estate

India’s Tier 2 & 3 Cities: The Next Growth Frontier for Real Estate

Introduction India’s metropolitan cities have long dominated the real estate landscape, shaping both market trends and public discourse, but the narrative is shifting towards India’s tier 2 and 3 cities. Beyond the metro cities, Tier 2 and Tier 3 cities such as Indore, Ahmedabad, Chandigarh, Jaipur, Coimbatore, Lucknow, Bhubaneswar, Kochi, Surat, Guwahati, and many others are emerging as vibrant real estate hubs. This growth is driven by impetus from rapid urbanisation, logistics corridors like the Delhi Mumbai Industrial Corridor, IT/ITeS investment zones, emergence of global capabil..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?