Jaipur: After more than one year of its implementation, the Real Estate Regulatory Authority (RERA), Rajasthan has taken a strict action against two developers who have failed to provide possession of properties to the consumers.In a first, the RERA has also directed the developers to pay Rs 50,000 compensation to the buyers along with the penalty and interest on the booking amount. Acting on the complaint of six allottees, action was taken against a Jaipur and Bhiwadi developer.The action was taken after the developers failed to deliver the properties in a given time-frame. A senior RERA official said, “We have directed the defaulter developers to pay 8.45% interest on the amount deposited by the buyers. An additional 2% penalty has also been imposed as per the Real Estate Regulation and Development Act 2016. We have also directed the developer to pay Rs 50,000 penalty to the consumers,” the official said.The official informed, as per RERA, possession date is sacrosanct and it is a punishable offence for a developer if delivery of a flat is not provided on committed date. Consumers who are facing similar problems can register their complaints on rera.rajasthan.gov.in.A senior official said, “In case of not adhering to the rules, the builder stands not only to lose the registration of the project but may also be punished by imprisonment for a term which may extend up to three years or with fine which may extend up to a further five per cent of the estimated cost of the real estate project, or both,” said the official.The ongoing Supreme Court ban on sand mining is threatening not only to bring the already embattled real estate sector under further financial stress but also in delaying thousands of projects, exposing the developers to the stringent penalties of RERA.With no solution in sight till the next hearing, when the court is expected to decide on whether to lift the ban or not, the real estate industry representatives in the state also met chief secretary and UDH additional chief secretary and top RERA officials.The regulatory authority constituted under the Real Estate Regulation and Development Act 2016, however turned down the proposal of developers to extend deadlines for completion of projects. The authority, however, refused as there is no provision in the Act to increase the registered deadline.

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