MahaRERA on Friday issued an order regarding the conclusion of the Meeting held for deciding the penalties on applications received after 16th August 2017 for ongoing projects.
The Authority has decided to keep the penalty amount same for the project applications between 16th August and 31st August. However, the amount of penalty on ongoing project registrations from September onwards will be twice as much of the previous amount, i.e., Rs 2 lakhs or an amount equivalent to double the registration fee, up to Rs 10 lakhs.
Around 800 ongoing project applications have been received between 16th August and 31st August, which will have to pay a minimum Rs 1 lakh penalty and about 54 applications of ongoing projects have been received since the beginning of September, which are required to pay double penalty.
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