Introduction
Haryana Real Estate Regulatory Authority (HRERA), Gurugram, pulled up Yashvi Homes for publishing a misleading advertisement in a mainstream daily. Acting automatically, the controlling authority has a Rs. 25 lakh fine. This article is about why misleading claims are made.
Haryana Real Estate Regulatory Authority (RERA) has taken decisive action against Yashvi Homes for misleading practices. A huge fine of Rs. 25 lakhs were imposed on the developer. This move reinforces RERA’s commitment to ensure transparency, accountability, and consumer protection in the real estate sector.
Advertisement Golden Gate Residency, Sector 3, Farooq Nagar, Gurugram, is a residential project developed under the State Government Scheme, Deen Dayal Jan Awas Yojana (DDJAY) 2016. However, the developer has advertised that the project is under development.
Not Include the RERA Registration Number
The ad does not include the RERA registration number or the RERA website, where people want project details and status. Also, the statement mentions a series of amenities that were not part of the original layout plan submitted during the RERA registration of the project. Both are violations under the RERA Act, of 2016.
In the statement in question, the policy is wrongly referred to as DDJAY 2024. But the correct policy name is DDJAY 2016. Additionally, the promoter has failed to provide necessary details like the project registration number and the RERA website, which are mandatory under the rules. Further, the advertisement falsely claimed facilities like schools, clubhouses, swimming pools, badminton courts, and half-basketball courts, which were not part of the approved layout plan submitted at the time of registration.
Conclusion
Buyers and investors can take solace in the fact that regulators are actively monitoring and penalizing any deviations from fair practices. It serves as a reminder to all developers to uphold ethical standards and provide accurate information to potential buyers.
Also read: Kondapur Real Estate: Top Reasons to Invest in Kondapur