Goa RERA Imposes Penalty on Panjim Builder for Unregistered Project
The Goa Real Estate Regulatory Authority (RERA) has imposed a fine of Rs 5 lakh on a Panjim-based builder for failing to register their project. This move underscores the authority's commitment to ensuring transparency and compliance in the real estate se
Goa ReraReal EstateRera ActBuilder PenaltyProject RegistrationReal EstateMar 01, 2025
The penalty was imposed for the builder's failure to register their project, as mandated by the Real Estate (Regulation and Development) Act, 2016 (RERA Act).
This move highlights the authority's dedication to maintaining transparency and accountability within the industry.
The penalty was announced after a thorough investigation by the RERA team, which found that the builder had been operating without the necessary registration.
The RERA Act requires all real estate projects to be registered with the respective state authorities to protect the interests of homebuyers.
Non-compliance with this regulation can result in severe penalties, including fines and legal action.
Speaking on the matter, a spokesperson for Goa RERA stated,
Frequently Asked Questions
What is the Real Estate (Regulation and Development) Act, 2016 (RERA)?
The Real Estate (Regulation and Development) Act, 2016 (RERA) is a law in India aimed at regulating the real estate sector. It ensures transparency, accountability, and timely completion of projects, protecting the interests of homebuyers and promoting a healthy market environment.
What is the penalty for not registering a real estate project with RERA?
The penalty for not registering a real estate project with RERA can include fines and legal action. In the case of the Panjim-based builder, a fine of Rs 5 lakh was imposed for non-compliance.
What are the benefits of RERA registration for homebuyers?
RERA registration provides homebuyers with several benefits, including the right to receive regular updates on project progress, the right to seek compensation for delays, and protection against misleading advertisements. Developers are also required to provide detailed project information.
How does Goa RERA ensure compliance with the RERA Act?
Goa RERA ensures compliance with the RERA Act through regular audits, inspections, and awareness campaigns. The authority also imposes penalties on builders who fail to comply with the regulations.
What should homebuyers do if they suspect non-compliance by a developer?
Homebuyers who suspect non-compliance by a developer should report their concerns to the local RERA authority. They can also seek legal advice and contact a RERA-registered real estate agent for assistance.
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