News: Haryana RERA issues notice to Adani M2K Projects, may impose penalty-01-02-2021
The Haryana RERA has also initiated penal proceedings against the companies wherein the penalty of violations may go up to Rs 12 crore against the promoter and Rs 2.7 crore against the real estate agent.
NEW DELHI: The Gurgaon bench of the Haryana Real Estate Regulatory Authority (RERA) has issued notices to Adani M2K Projects, a joint venture of Adani Realty and the M2K group, and property agent Naveen Associates for advertising a project without getting it registered with the authority.
The Haryana RERA has also initiated penal proceedings against the companies wherein the penalty of violations may go up to Rs 12 crore against the promoter and Rs 2.7 crore against the real estate agent.
“It has come to the notice of the authority that the Adani M2K Projects LLP has neither applied for registration nor submitted the requisite documents containing details of the property being built by them. This clearly invites criminal proceedings against him for non-compliance of the directions regarding registration of the project under Section 59(2) of the RERA Act,” Haryana RERA chairman KK Khandelwal said.
The authority has served a show cause notice to the promoter of the project and directed it to produce records pertaining to the property they have sold before the authority.
An Adani Realty M2K spokesperson denied promoting its projects without getting the necessary approvals. "Following the media reports related to one of our projects in Gurugram, we have come to know about the concerns expressed by Haryana RERA. We will engage with the authorities to cooperate in the matter,” the spokesperson said. “Adani Realty M2K does not promote or market projects without the mandatory approvals … Our well-executed projects and track record are a testimony of our commitment towards the customers and established guidelines.”
The Haryana RERA said a trend had been observed that promoters were advertising, marketing or selling units in their real estate projects, online as well as offline, without getting the projects registered with the authority.
The RERA Act makes it mandatory for all commercial and residential real estate projects where the land is over 500 square metres, or which have at least eight apartments, to register with the Real Estate Regulatory for launching those, in order to provide greater transparency in project-marketing and execution.
“It has also been observed that not only the promoters but real estate agents are also getting involved in such unscrupulous activities. They not only try to sell the unregistered projects but also do not get themselves registered with the authority,” said Khandelwal.
The Act mandates that no real estate agent can participate in advertisement/market/sale of any project without getting himself or his association registered with the RERA.
