The Haryana Real Estate Regulatory Authority (HRERA) will reportedly impose a penalty of about Rs 3 billion to Gurugram developers. As reported, the authority has, in the last two years, received 9,496 complaints, of which 6,598 have been disposed off or resolved. It has also issued 509 penalty notices to builders who have defaulted in terms of complying with various provisions of the real estate law. HRERA has imposed penalty of about Rs 400 million on builders so far.
Haryana seems to be in the forefront to safeguard the interest of home buyers in the state. Property transactions in the unregulated realty sector in Haryana are set to become transparent. In a first-of-its-kind initiative to protect the interests of property buyers and have a regulated and planned development of the real estate sector, the State government is set to have the Haryana Real Estate Regulatory Authority.