Punjab gives another chance to developers to register with RERA

The Real Estate Regulatory Authority (RERA), Punjab, has decided to give one more chance to those promoters who had not applied for registration of their projects till December 31, 2017. The authority has asked such promoters to submit applications for registration of their projects and avoid punitive action. A spokesman of Punjab Government said 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 within three months of the commencement of the Act which is July 31, 2017. The authority subsequently extended last date of registration of projects up to December 31, 2017, he added. He added that many more applications were still being received by RERA for registration and as per information received from various licensing authorities many promoters had not applied for registration of their projects even till date. "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 --December 31, 2017 -- on payment of late fees to the tune of 100 percent of the fees payable under Rule 3(4)", he added.