A prominent real estate developer in Goa is facing strict scrutiny and potential penalties for violating the Real Estate (Regulation and Development) Act (RERA). This development highlights the growing importance of regulatory compliance in the constructi
Real EstateReraGoaColvaRegulatory ComplianceReal Estate NewsMar 02, 2025
RERA stands for the Real Estate (Regulation and Development) Act, a law implemented in 2016 to protect homebuyers and ensure transparency and accountability in the real estate sector.
The developer is accused of not registering the project with the authority, failing to provide accurate information to buyers, and delaying project completion beyond the agreed timeframe.
The Goa Real Estate Regulatory Authority (GEREA) is investigating the case.
Penalties for violating RERA can include fines, suspension of the project, and other legal actions as determined by the regulatory authority.
Regulatory compliance is crucial in the real estate sector to protect the interests of homebuyers, ensure transparency, and maintain a fair and orderly market.
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