Gurugram, Aug 21 (PTI) The Haryana Real Estate Regulatory Authority (HRERA) of Gurugram has imposed a Rs 1.5 crore penalty on city-based real estate promoter M/s 1000 Trees Housing Pvt Ltd for not registering its project even after 12 years of obtaining the relevant licence.

The penalty was imposed after scrutiny of the application of the promoter seeking registration of the project to complete construction and hand over units to homebuyers.

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As per rules, after obtaining licence from the competent authority, it is mandatory for a promoter to register its project with HRERA before creating third party rights and advertisements, a statement said.

The authority, however, has approved the project in principle subject to payment of late fees and the penalty, it said.

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"A penalty of Rs 1.5 crore is also imposed under Section 59 of the Act for non-registration of the ongoing project," said the HRERA order.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)