Punjab Real Estate Regulatory Authority (RERA) has decided to give one more chance to those promoters who have not applied for registration of their projects till last date, which was December 31, 2017, to submit their applications for registration of their projects.
The Authority has now called upon all promoters to avail this opportunity and avoid any punitive action under the law.
As per provision of section 3 of Real Estate (Regulation and Development) Act, 2016, promoters of the ongoing projects (except those exempted under section 4 of the Act) were required to register their projects with RERA within three months of commencement of the Act, that is July 31, 2017, said the spokesperson.
Spokesperson added that the authority had subsequently extended last date of registration of projects up to December 31, 2017.
Many more applications were still being received by RERA for registration, and as per information received from various licensing authorities, many promoters have not applied for registration of their projects even till date, pointed the spokesperson.
“The authority has, therefore, decided to give one more chance to such promoters to submit their applications for registration of their projects even after extended date, that is December 31, 2017, on payment of late fees to the tune of 100 percent of the fees payable under Rule 3(4),” added the spokesperson.