GURUGRAM: Real Estate Regulatory Authority (RERA) has restricted the sale and purchase of one of the projects of Vatika Limited and asked the property developers to submit the legal documents required for license renewal and registration of the project.
K. K. Khandelwal, chairman of RERA, said that the sale and purchase of properties in Vatika India’s Next 2 projects had been restricted due to non-compliance with the RERA Act.
A hearing was held on September 12; the authorities found that several developers, including Vatika, failed to submit the pending documents required for registration of the project, which is compulsory for any project.
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Gurugram-RERA restricts the sale & purchase of properties in Vatika.
The approvals for the zoning plan, license renewal, estimate, and service plan are still pending for the Vatika India Next 2.
Section 3 of the real estate (regulation and development) Act 2016 that compulsory RERA registration for a new project as well as for any current project and ongoing projects without which permission no one can start the construction and make any bookings of flats, plots, etc.
Khandelwal also said that if any promoter breaks the law of the provision according to Section 3 of the Act, real estate, they shall be liable to a penalty which may increase up to 10 percent of the estimated cost of the real estate project.
H-RERA restricts properties in Vatika, India Next 2 Years
Vatika developers requested a license for their project from the town and country planning department 9 (DTCP), Haryana, in 2013 to develop the beautiful township Vatika India Next2. RERA was allowed in the state in July 2017.
The authority has found that many legal or compulsory documents are still pending for this project, including a shortage in registration fees on the part of the promoter.
The RERA authority noted that the builder’s license also has expired and its renewal is pending.
The licenses of Vatika Limited have expired and need to be reallocated. The authority also gives notice of thirty days to the builders as to why they do not have an application for grant of registration be rejected.
Gurugram Vatika News
The authority also said that they observed the promoter had moved the application casually without giving any details and requisite information about the project.
Therefore, the authority prevents the sale and purchase of this unregistered project.
Besides Vatika, the authority also sent serious messages to the promoters of Centra One, Neo Square Zen Residence1, and other builders, asking them to follow the rules by or before the next hearing date held on 17 October.
The authority also warned people against booking plots and flats in these unregistered projects.
Vatika India Next 2 is about 100 acres of land in Sector – 88A and Sector – 88B in Harsaru village, Gurugram, Haryana.