Now Reading: HARERA warns homebuyers against unregistered property projects
-
01
HARERA warns homebuyers against unregistered property projects
The Haryana Real Estate Regulatory Authority (HARERA), Gurugram, has issued a public advisory cautioning homebuyers against investing in unregistered real estate projects. The authority said it has taken note of misleading advertisements…
The Story in Brief
The Haryana Real Estate Regulatory Authority (HARERA), Gurugram, has issued a public advisory cautioning homebuyers against investing in unregistered real estate projects. The authority said it has taken note of misleading advertisements for unapproved projects and directed promoters to stop all pre-launch promotions.
Prospective buyers must verify a project's RERA registration certificate, number, website, and site address on the authority's portal. Under the Real Estate (Regulation and Development) Act, 2016, marketing or selling units in an unregistered project is a punishable offence, and agents facilitating such deals without registration face legal action.
The Indian Opinion
The advisory is timely but exposes a familiar gap: HARERA issues warnings, yet unregistered projects continue to bait buyers with glossy pre-launch offers. Enthusiasts for deregulation often claim RERA adds costs, but the real cost is borne by buyers who lose deposits in fly-by-night schemes. The test will be whether HARERA now names and penalises specific violators, or if this remains another advisory gathering dust on a portal. How many promoters will actually be prosecuted under Section 59(2)?
Sources (2): hindustantimes.com, hindustantimes.com (2)
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
