The Odisha Real Estate Regulatory Authority (RERA) has taken stringent action against realtor Twin City Infracon Private Limited for RERA Violation. This significant penalty underscores the authority’s commitment to upholding transparency and accountability in the real estate sector.
An investigation initiated under Sections 35 and 59 of the RERA Act revealed that Twin City Infracon had sold plots without obtaining the necessary registration certificate from RERA. The promoter, engaged in developing a twin-city township in Cuttack, allegedly carved out small plots from a larger area without proper authorization, violating Section 3 (1) of the RERA Act.
Additionally, the Enforcement Officer appointed by RERA found that essential amenities such as drainage systems, waste disposal systems, and water supply were not developed in the 25-acre land claimed by the realtor. This failure to provide basic infrastructure further exacerbated the violation of regulatory norms.
Despite the realtor’s defense claiming that the company was formed after the sales took place, further investigation revealed discrepancies in their statements. Sales were conducted between 2021 and 2024, contradicting the company’s assertions. The authority’s technical team deemed these claims fallacious, leading to the imposition of the hefty fine.
Based on the estimated project cost submitted by the Enforcement Officer and an empanelled engineer, amounting to Rs 167.7 crore, RERA imposed a fine of Rs 50 lakh on Twin City Infracon. The realtor has been instructed to pay the penalty within two months, emphasizing the severity of the violation and the need for compliance with regulatory mandates.
Directive to Register Project
In addition to the fine, RERA directed Twin City Infracon to register the project under Section 3 of the Act, ensuring that all future activities adhere to legal requirements and regulatory standards.
Conclusion
The imposition of a substantial fine on Twin City Infracon by Odisha RERA sends a clear message regarding the consequences of non-compliance with regulatory provisions. This action underscores the authority’s commitment to safeguarding the interests of homebuyers and maintaining integrity within the real estate sector.
