Rera Act
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RERA Bihar fined a defaulting firm with Rs. 25 Lakh
Dated on: Thursday 11th July 2019Phenomenal Projects, a Patna based Real estate firm has been imposed a penalty of Rs.25 lakhs under section 59 of the Act (negotiated 5% of the estimated cost of the project) by the RERA Bihar Authority for non-compliance of the provision of Section 3 of the RERA Act, 2016. The promoters had advertised the project without registering it with the RERA Authority. The firm has been given 60 days time to pay the penalty amount.
