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.
The detailed budget speech, one of the most comprehensive ones in recent past did have some significant positives for sectors like Infrastructure, Power, Banking and NBFC, Agriculture reiterating her focus on Affordable housing, Education and Healthcare sector.