TFP Bureau, Raipur; February 22, 2024: The Chhattisgarh Real Estate Regulatory Authority (RERA) has issued a stern directive, emphasizing the mandatory registration requirement for all new and ongoing real estate projects in the state. According to Section 3 of the Real Estate (Regulation and Development) Act, 2016, developers must register their projects with Chhattisgarh RERA before engaging in any promotional activities, including advertising, marketing, booking, or sale.
The Registrar of RERA highlighted that failure to comply with this provision carries severe consequences. Under Section 59 of the RERA Act, violators may face penalties of up to 10 percent of the project cost and imprisonment for a period of up to three years. In light of recent observations, it has come to the authority’s attention that approximately 157 projects in four districts of the state – Raipur, Bilaspur, Kawardha, and Kanker – have proceeded with marketing and sales activities without obtaining requisite registration from Chhattisgarh RERA.
In response, notices are being issued to these projects by the authority. Furthermore, data collected from city and village investment offices indicates a potential increase in the number of unregistered projects. Such non-compliance not only undermines the provisions of the Act but also poses risks to consumers’ interests.
To safeguard consumer rights and ensure adherence to regulatory mandates, the Authority has resolved to take decisive action against the promoters of these unregistered projects. Legal proceedings will be initiated against the 157 identified promoters, aiming to prevent future complications for consumers investing in these projects.
In the subsequent phase, the authority intends to scrutinize development permits issued by city and village investment offices across other districts of the state. Any projects found to be operating without Chhattisgarh RERA registration will face similar repercussions, as the Authority remains steadfast in its commitment to enforcing regulatory compliance and protecting consumer interests.
