The Real Estate Regulatory Authority (RERA) in Gurugram fined Coral Realtors Private Limited, a real estate company, Rs 50 lakh. The company was penalized for promoting and selling their mall project, Metro World Mall in Sector 56, Gurugram, without registering it with RERA first. This action goes against the rules set by the RERA Act of 2016, specifically Section 3, which requires all real estate projects to be registered before they are advertised or sold.
RERA made it clear that the company cannot get away with breaking these rules. They stated that the fine must be paid before the project can be officially registered.
The chairman of RERA Gurugram, Arun Kumar, emphasized that the law applies to everyone equally. He warned that all real estate developers must register their projects with RERA before starting to advertise or sell them.
The issue came to light when RERA started an investigation on its own after noticing the unregistered project. The developer, Coral Realtors Private Limited, only applied for registration after RERA began looking into their activities. The developer did not immediately respond to requests for comments on the situation.
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