Jharkhand RERA Imposes Heavy Fines on Builders for Non-Compliance
In a significant crackdown on regulatory violations, the Jharkhand Real Estate Regulatory Authority (JRERA) has imposed a total fine of Rs 83,50,000 on 77 builders. This action was taken after the developers failed to submit mandatory quarterly progress reports (QPR) and ignored summons to appear before the JRERA court.
Strict Enforcement and Stern Warnings
JRERA chairman Birendra Bhushan issued a stern warning, stating that the defaulters did not appear in court on Friday, leading to the immediate imposition of penalties. He emphasized that failure to clear these dues would result in the freezing of the defaulters' bank accounts, underscoring the seriousness of the enforcement drive.
Phased Enforcement Drive Details
This crackdown is part of a phased enforcement initiative by the regulator. In the current round, notices were issued to 106 builders for violating transparency norms. While two developers have already paid their fines and 27 notices could not be delivered, the remaining builders failed to present their case on Friday, resulting in the penalties.
Under existing regulations, any project with more than eight flats must be registered with JRERA. After registration, developers are legally required to provide quarterly updates that detail construction milestones, financial health, and overall progress. The fines are calculated at a rate of Rs 25,000 per missing quarter.
Calculation of Fines and Communication Methods
Chairman Bhushan explained, "The total fine imposed is based on the number of quarters different builders failed to submit the report." He further noted that for those whose physical notices could not be delivered, JRERA is now serving summons via email and WhatsApp to ensure effective communication.
Widespread Non-Compliance Across the State
Out of 1,711 projects registered with JRERA across Jharkhand, more than 50% have failed to submit their progress reports. Bhushan stated that notices will continue to be sent to all defaulters in a phased manner to ensure accountability and adherence to regulatory standards.
This enforcement action highlights JRERA's commitment to maintaining transparency and protecting homebuyers' interests in the real estate sector. The authority aims to curb malpractices and ensure that developers comply with legal obligations for project updates.
