The Haryana Real Estate Regulatory Authority (RERA) has imposed a significant penalty on the promoter of the '1000 Trees' housing project for violating regulations under the Real Estate (Regulation and Development) Act, 2016. The penalty was issued after multiple complaints were filed against the promoter, citing delays in project completion and failure to adhere to the terms laid out during registration.
The '1000 Trees' project, which promised residential development, had faced scrutiny over issues related to missed deadlines and non-compliance with various statutory obligations. Homebuyers expressed their grievances about the prolonged delay and lack of transparency in the project's execution. After an investigation, the RERA authority concluded that the promoter had breached several clauses of the Act.
As a consequence, RERA not only levied a fine but also directed the promoter to expedite the project and resolve pending issues faced by the buyers. The regulatory body emphasised the importance of protecting homebuyers' interests and ensuring that developers adhere to their commitments.
This decision is part of Haryana RERA's ongoing efforts to enforce accountability in the real estate sector, encouraging developers to comply with regulatory norms and avoid any malpractice. The fine serves as a warning to other real estate developers in the state, underscoring the consequences of neglecting consumer rights and regulatory obligations.
