HP RERA Slaps Interim Penalty on Chester Hills-2 and Chester Hills-4 Promoters
The Himachal Pradesh Real Estate Regulatory Authority (HP RERA) has imposed an interim penalty of Rs 70 lakh on the promoters of the Chester Hills-2 and Chester Hills-4 housing projects.
- Penalty of Rs 35 lakh each on the two projects.
- Violations of Section 4(2)(l)(D) of the Real Estate (Regulation and Development) Act, 2016.
- Failure to maintain proper accounts of funds received from allottees and expenditure incurred on the projects.
According to officials, further action could follow based on detailed reports awaited from the field.
HP RERA Official Statement: "We have sought a report from the field. If we find irregularities in the report, the authority can impose further penalties."
Potential Violations Flagged by HP RERA
- Section 11: Obligations of promoters.
- Section 14: Deviations from approved plans.
- Section 17: Handing over possession before obtaining the completion certificate.
If these violations are confirmed, the promoters may face additional penalties, further increasing the scope of the ongoing suo-motu proceedings initiated by the authority.