CHENNAI: Developers are violating the Real Estate Act by failing to provide details of registered projects that are uploaded on the website of Tamil Nadu Real Estate Regulatory Authority (TNRERA) and by not providing registration number obtained from the regulatory agency.Under Section 11 (2) of the Real Estate (Regulations and Development) Act, 2016, the advertisement or prospectus issued or published by the promoter has to mention prominently the website address of the authority, wherein all details of the registered project have been entered and include the registration number obtained from the authority and such other matters incidental thereto.
However, most developers are ignoring the tenets of the law. A TNRERA spokesman said a number of advertisements are being published in the dailies without mentioning both. Cautioning promoters, developers and individuals, the spokesman said notice, circular or other documents or publicity of real estate projects without mentioning the website address of the authority and registration number is liable to be punished in case such advertisements are made for projects that exceeds 500 sq m or where number of apartments exceeds eight.
“It will invite penalty under Section 59 of the Real Estate (Regulation & Development) Act, 2016, which may extend up to 10 per cent of the estimated cost of the real estate project as determined by the authority or punishable with imprisonment for a term that may extend up to three years, or with fine that may extend up to a further 10 per cent of estimate cost,” the spokesman said.