The Maharashtra Real Estate Regulatory Authority (MahaRERA) has imposed a fine of Rs. 30 lakh on the real estate developer Godrej Properties for advertising a pre-launch project before registration with MahaRERA.Godrej Properties had reportedly installed 30 hoardings related to their project Nirvana’s pre-launch and promotional offers in Mumbai and Pune. Hence a fine of Rs. 1 lakh for...
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has imposed a fine of Rs. 30 lakh on the real estate developer Godrej Properties for advertising a pre-launch project before registration with MahaRERA.
Godrej Properties had reportedly installed 30 hoardings related to their project Nirvana’s pre-launch and promotional offers in Mumbai and Pune. Hence a fine of Rs. 1 lakh for each hoarding was imposed by the MahaRERA under section 3 (1) of the state RERA act.
Godrej Properties regretted the pre-mature implementation of the marketing activity at the project. However, Godrej Properties are said to have received RERA approval for the project.
The RERA advertisement rule specifies that the promoter shall not issue any advertisement in any manner, including by the way of issuance of brochures, pamphlets, words of mouth, or in any other manner, for booking of the apartment or plots or building in real estate project without getting their particular project registered under RERA. If the promoter is found advertising the project without getting it registered, he/she will face harsh penalties that are prescribed in the norms.