JKRERA Imposes Rs. 10 Lakh Penalty on Non-Compliant Real Estate Developers
The Jammu and Kashmir Real Estate Regulatory Authority (JKRERA) has imposed a Rs. 10 lakh penalty on real estate developers for failing to register their ongoing project in Raipur Domana. This move underscores the importance of compliance with the Real Estate (Regulation and Development) Act 2016.
Real EstateJkreraPenaltyRegulationRaipur DomanaReal Estate NewsJun 02, 2025
The penalty of Rs. 10 lakh has been imposed for violation of Section 3 (1) of the Real Estate (Regulation and Development) Act 2016. The Authority took suo-motu cognizance of the violation and initiated proceedings under the applicable provisions of the Act. After thorough examination, it was established that the promoters have not obtained the requisite registration from JKRERA nor have they sought any exemption or provided a justifiable reason for the omission.
“It was an ongoing project and the promoter should have applied for the RERA registration well on time to avoid penalties. RERA registration is mandatory for all ongoing real estate projects where completion certificates were not issued,” said Satish Chandra, Chairperson JKRERA.
Mere imposition of a penalty does not exempt a promoter from registering their real estate project, reiterated the Chairperson JKRERA. He emphasized that continued non-compliance with Section 3 of the Real Estate (Regulation and Development) Act, which mandates project registration, will attract severe penalties. “As per Section 59(2) of the Act, promoters who fail to comply with orders or continue to violate registration requirements face imprisonment for up to three years or an additional fine of up to ten percent of the estimated project cost, or both,” added the Chairperson JKRERA. He urged all promoters to register their projects without delay to avoid further legal action.
The JKRERA reiterated that the registration of real estate projects, particularly ongoing projects, is a key step to ensure transparency, promote fair practices, and protect the interests of allottees and homebuyers. It also enables the Authority to monitor project progress and enforce accountability in the real estate sector.
The Jammu and Kashmir Real Estate Regulatory Authority (JKRERA) was established to regulate the real estate sector in the region, ensuring that developers adhere to the Real Estate (Regulation and Development) Act 2016. The Act aims to protect the rights of homebuyers and promote transparency and accountability in the real estate market. JKRERA plays a crucial role in monitoring and enforcing compliance with the Act, thereby fostering a fair and reliable real estate environment in Jammu and Kashmir.
Frequently Asked Questions
What is the Real Estate (Regulation and Development) Act 2016?
The Real Estate (Regulation and Development) Act 2016 is a law in India that aims to regulate the real estate sector, protect homebuyers, and promote transparency and accountability among developers.
Why did JKRERA impose a penalty on the real estate developers?
JKRERA imposed a penalty of Rs. 10 lakh on the real estate developers for failing to register their ongoing project in Raipur Domana as required by the Real Estate (Regulation and Development) Act 2016.
What are the consequences of not registering a real estate project with JKRERA?
Non-compliance with the registration requirements can result in penalties, including a fine of up to ten percent of the estimated project cost or imprisonment for up to three years, or both.
Who is Satish Chandra, and what is his role in JKRERA?
Satish Chandra is the Chairperson of the Jammu and Kashmir Real Estate Regulatory Authority (JKRERA). He oversees the enforcement of the Real Estate (Regulation and Development) Act 2016 and ensures compliance among real estate developers.
How does JKRERA help homebuyers?
JKRERA helps homebuyers by ensuring transparency, promoting fair practices, and protecting their interests. It monitors project progress and enforces accountability in the real estate sector.
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