Real Estate Brokers Beware! Two Agents In Maharashtra Fined For Selling Unregistered Projects

New Delhi: Agents selling real estate projects that are not registered with RERA authorities can land in trouble. In a suo motu case, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has penalized two agencies-one in Pune and another in Kalyan for selling properties in unregistered projects, according to a news report by Times of India Group.

Wisteria Real Vision Private Ltd was found to be selling flats in a project in Haveli that is spread over 100 acres. The project is not registered with RERA.   

Mystica India, an agency in Kalyan was selling properties in an unregistered project in Kalyan and advertising through SMSs. 

Wisteria and Mystica were fined Rs 80,000 and Rs 40,000 respectively by MahaRERA chairperson Gautam Chatterjee in suo motu manner.

Under the Real Estate (Regulation and Development) Act, a project has to be registered with RERA authorities before sale of property can take place.