Coronavirus cases in Maharashtra: 510Mumbai: 278Pune: 57Islampur Sangli: 25Ahmednagar: 20Nagpur: 16Navi Mumbai: 16Pimpri Chinchwad: 15Thane: 14Kalyan-Dombivali: 10Vasai-Virar: 6Buldhana: 6Yavatmal: 4Satara: 3Aurangabad: 3Panvel: 2Ratnagiri: 2Kolhapur: 2Palghar: 2Ulhasnagar: 1Sindudurga: 1Pune Gramin: 1Godiya: 1Jalgoan: 1Nashik: 1Washim: 1Gujrat Citizen in Maharashtra: 1Total Deaths: 21Total Discharged: 42BMC Helpline Number:1916State Helpline Number:022-22694725

MahaRERA imposes ₹50 lakh fine on builder’s company

The first time, since its inception, MahaRERA has imposed a fine of ₹50 lakhs on a builder’s company for violation the norms

MahaRERA imposes ₹50 lakh fine on builder’s company
SHARE

Maharashtra Real Estate Regulatory Authority (MahaRERA) on Thursday imposed a fine of ₹50 lakh on Piramal Realty – a builder’s company – for not abiding by the rules and for violating the law. Before this, the fines imposed varied between ₹2 lakh to ₹10 lakh but this is the first case where the fine is beyond the usual amount. 

A three-page advertisement was published in a newspaper regarding the Piramal Realty’s new project – Piramal Mahalaxmi in South Mumbai. The firm has been penalised for violating the norms set by MahaRERA for advertisements.

In the advertisement, the company’s registration number with MahaRERA was printed in small letters and the details regarding the advertisement was unavailable on MahaRERA’s website. According to MahaRERA’s policies, the registration number shall be printed in bold uppercase letters and it is mandatory for every advertisement to be registered with the website.  

MahaRERA’s President Gautam Chatterjee imposed a penalty of ₹50 lakh on Piramal Realty for violating the law.

RELATED TOPICS
Related News