The Haryana Real Estate Regulatory Authority (RERA), Gurugram, has taken strict action against a promoter for publishing a misleading advertisement regarding a Deen Dayal Awas Yojana (DDJAY) project. The promoter of Yashvi Homes Private Limited has been fined Rs 25 lakh for the misleading advertisement published in a mainstream daily.
The advertisement in question pertained to the Golden Gate Residency project located at Sector 3, Farukhnagar, Gurugram. While the project falls under the Deen Dayal Awas Yojana 2016, the advertisement incorrectly captioned it as DDJAY 2024, which caught the attention of the RERA officials.
The Authority, upon noticing the misleading advertisement, took suo motu action against the promoter, terming the advertisement completely misleading. Additionally, the promoter failed to mention essential details such as the registration number of the project and the website address of the Authority, as mandated by RERA regulations.
According to RERA guidelines, any advertisement or prospectus issued by the promoter must prominently display the website address of the Authority, along with the registration number of the project. Failure to comply with these requirements can result in penalties and legal repercussions.
Furthermore, the advertisement falsely promised amenities such as schools, clubhouses, swimming pools, and sports courts, which were not included in the approved layout plan submitted by the promoter at the time of registration. This discrepancy between the advertised amenities and the sanctioned layout plan highlights the importance of transparency and accuracy in real estate advertising.
The RERA’s decision to impose a hefty penalty serves as a warning to all real estate promoters to refrain from publishing misleading advertisements in the future. It underscores the Authority’s commitment to protecting the interests of homebuyers and ensuring compliance with regulatory standards in the real estate sector.
In conclusion, the penalty imposed by Haryana RERA on the promoter for a misleading advertisement underscores the importance of adherence to regulations and transparency in real estate transactions. Promoters must accurately represent their projects and provide essential information to prospective buyers to avoid legal consequences.