The Bihar Real Estate Regulatory Authority has sent notices to 16 errant realty developers for not complying with Section 3 of the Real Estate (Regulation & Development) Act 2016.
According to Rajiva Bhushan Sinha, Member, Bihar RERA, the authority has issued notices to real estate developers advertising their ongoing projects, entering into an agreement with customers, accepting advance money from them and completing the projects hastily without registering them with the RERA. Also Read - RERA Bihar – Builders must display project details at the construction sites
This is a violation of section 3 of the RERA rules thus the authority has asked the defaulting builders to register their projects with RERA with a late fee of Rs 4 lakh or 400% of the registration fee, whichever is higher before July 31, 2018, he added.
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