In the greatest punishment collected up until this point, the Maharashtra Real Estate Regulatory Authority has forced a fine of Rs 50 lakh on realty builder Piramal Realty for infringement of the RERA Act, 2016.

As indicated by the request passed on Thursday by the MahaRERA Chairperson Gautam Chatterjee, Piramal Realty did not distribute MahaRERA site address alongside the promotion of its undertaking in south Mumbai's Mahalaxmi region. The promotion additionally did not convey the undertaking's enrollment number on the first page, while the second page conveyed the same in "little" textual style, the request said.

MahaRERA has made this move on Suo Motu premise and cautioned the manufacturer to guarantee that such infringement isn't rehashed later on. The controller has acknowledged the designer's dispute that the previously mentioned infringement has occurred unexpectedly.

ET's email inquiry to Piramal Realty stayed unanswered until the season of going to press.

In March, the controller had slapped punishment of Rs 2 lakh to Rs 10 lakh on 8 manufacturers in Mumbai for promoting their separate land ventures without specifying the specialist's site address and publicizing a non-enrolled venture. MahaRERA had made this move too on Suo-Motu premise.

As indicated by segment 11(2) of the Real Estate (Regulation and Development) Act, 2016, the ad or outline issued or distributed by the promoter is required to say the site address of the expert wherein all points of interest of the enrolled venture are entered and incorporate the undertaking's MahaRERA enlistment number.

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