This directive follows the regulator’s observation of widespread non-compliance by promoters, raising serious concerns about transparency and accountability within the real estate sector.

During a recent review meeting, HRera highlighted that numerous promoters had failed to submit these mandatory reports, despite being issued repeated reminders.

Consequently, the authority has begun issuing show-cause notices to defaulting promoters. These notices stipulate a strict deadline for compliance and warn that failure to adhere will result in substantial financial penalties.

In its official order, HRera stressed that failing to file annual reports constitutes a significant breach of the Real Estate (Regulation and Development) Act, 2016 (RERA Act).

Promoters who do not comply within 30 days of receiving the notice will face an initial penalty of ₹5 lakh. Additionally, for non-compliance extending beyond 60 days, an incremental penalty of ₹10,000 per day will be imposed.

The submission of annual reports is a vital obligation under Section 4(2)(l)(d) of the RERA Act. Promoters are required to ensure their project accounts are audited by a certified chartered accountant within six months after the conclusion of each financial year.

This audit must confirm that funds collected for a project are used solely for its intended purpose and that withdrawals correspond accurately to the project’s progress.

HRera has further cautioned that any promoter who provides false information or violates the provisions of Section 4 may face penalties of up to 5% of the estimated project cost, as outlined in Section 60 of the Act.

This measure underscores the critical importance of upholding financial integrity in real estate projects.
The regulator has reiterated that these steps are designed to enhance transparency and accountability within the industry.

Promoters are strongly urged to comply with these statutory requirements promptly to avoid facing severe financial and legal consequences.

HRera’s strict stance reflects its dedication to protecting homebuyers’ interests and ensuring that project funds are managed responsibly. Through these actions, the authority aims to reinforce trust and ethical practices in the real estate sector.

The post Haryana RERA mandates builders to file annual reports within 30 days appeared first on .

The official further stated that the promoter received a show-cause notice from the government after it took serious notice of the advertisement that was published in an English daily on March 2.

In a formal statement, the authority noted that the promoter had failed to properly describe the details in the advertisement, in violation of Section 61 of the Real Estate (Regulation and Development) Act of 2016, despite mandatory provisions under Sections 11(2) and 13(1) of the Act.

“It is undeniably true that the promoter, Countrywide Promoters Pvt Ltd, published a deceptive advertisement in an attempt to prevent potential allottees from making an informed decision. Accordingly, under Section 61 of the Act 2016, the Authority today imposes a penalty in the sum of Rs 50 lakh,” the judgment stated.

One full page of the advertisement features a picture of a garden/park called Garden of Dreams, but the other page features an image of a club that isn’t related to the project.

“However, the remaining portion of the advertisement highlights features like a squash court, a cutting-edge club house, a covered pool and spa, an outdoor library, revitalizing sculpted rocks, a coffee lounge counter, and other amenities that are obviously not included in the project. All of it is deceptive,” the directive stated.

Under the Deen Dayal Jan Awas Yojna Affordable planned Housing Policy 2016, Countrywide Promoters Private Limited is building Green Oaks, an affordable planned colony in Sector 70-A, Gurugram. In 2021, the developer registered the project with RERA.

It is quite evident that the promoter has released a deceptive advertisement for a DDJAY planned colony, using seductive imagery to give the impression that the project includes a clubhouse and other amenities that are not actually included.

“Section 7(1)(A)(i) is violated in this case. The order stated that “no specifics, data, or illustrations of the project’s actual layout or site plan have been provided to enable the potential allottee to decide upon investing in the project.”
HRERA further stated that the promoter was unable to have the registration details updated in accordance with the new style.

The project began in 2021, and in 2023 the layout plan underwent revisions.

The post Countrywide Promoters faces fines from Haryana RERA for deceptive advertising. appeared first on .

“To help both parties — the developer and the allottees — a conciliation bench should be set up to resolve grievances at an early stage,” he stated on Thursday. Generally speaking, complaints have a 60-day window.

Kumar, an IAS officer from the 1989 Haryana cadre who retired earlier this year, has been the second chairman of Gurgaon H-Rera, for a five-year term.

The new chief believes that in addition to assisting in the peaceful settlement of conflicts that would otherwise result in drawn-out court fights, the conciliation bench will expedite the resolution process and eliminate a significant backlog of cases.

If the conciliation bench is established, it will not only prevent more strain on H-Rera but also on civil courts that are currently overburdened with cases. It will allow the involved parties to settle outside of the official H-Rera proceedings.

Kumar met in his office on Thursday for the first time with junior employees and senior H-Rrera personnel. “The authority’s primary goal is to address the grievances raised by the allottees. The complainant’s case must be decided by H-Rera within the allotted time frame, he continued.

He went on to say that to improve the effectiveness and transparency of its operations, the authority must engage the public through awareness campaigns and other initiatives.

Under the direction of KK Khandelwal, who retired in February of this year, H-Rera Gurgaon was established on February 5, 2018.

During his term, Khandelwal also proposed the creation of a mediation forum and assembled a group of mediators with experience in resolving real estate conflicts.

The cases that the regulator thought about submitting to the forum included those that were referred to the H-Rera adjudicating officer and those where mediation petitions were submitted before the filing of a formal complaint.

In October of this year, the Union home ministry named Arun Kumar, who was previously the director general of the Directorate General of Civil Aviation (DGCA), as the chief commissioner of the Chandigarh Right to Service Commission. He has also held the position of deputy commissioner at Chandigarh, Palwal, and Faridabad.

Kumar served for more than thirty years and has a lengthy history with the Ministry of civil aviation. To relieve traffic at Delhi’s IGI airport, he planned and constructed micro-airports across the nation, including one in Hisar, Haryana, which is regarded as a significant accomplishment.

The post A conciliation bench is necessary to swiftly settle complaints: The chairman of Haryana RERA appeared first on .