The need to register under RERA has been made mandatory in almost all the states. At the same time, the registration process will give certain benefits. A strict decision is taken on some of the developers, who were not registered and promoted and advertised their products. This action by the Government of Haryana proves the importance of this act.
Following this violation of law by the developers, they have been charged under Section 3 of the Act. While it is mandatory for all the ongoing as well as the to-be projects to be registered under this act, and no process of advertisement or selling can be done unless and until the process is completed, this action by some of the Haryana developers bagged the charges.
At this stage, a 15 days explanation time has been given by the government to those developers. But, the punishment seems to be more strict and severe. If going by Sec 59 of this RERA Act, the developers can even be charged a penalty. And, this penalty is a whooping cost. It might be even 10% of the total project cost.
There seem to be severe form of confusion regarding each and every aspect of this act. However, the website for registration is pretty simple and user friendly. What need to be taken care of is completing the registration process before the given date, that is, July 31.
While the need for registration is important and but for certain customers, who were dreaming their first home, right after the completion of the registration process, have to wait for a bit. As it is stated by this act that, every single development project needs to be registered under the act, failing of which will be termed as an unauthorized property by the government. As a result of this, the prospective buyers can only go for their new homes if the developers have completed the registration process.