K-RERA imposed the penalty for promoters who

May 06, 2024 | by TeamLease RegTech Legal Research Team

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Industry Specific Compliance The Kerala Real Estate Regulatory Authority (K-RERA) on April 29, 2024, imposed the penalty for promoters who fail to submit Quarterly Progress Reports.

The following has been stated:

• Rs. 50,000/- in case of real estate projects with estimated costs exceeding Rs.100 crores.

• Rs. 25,000/- to the promoters of real estate projects with estimated cost exceeding Rs. 50 Crores to Rs. 100 Crores.

• Rs. 10,000/- to the promoters of real estate projects with an estimated cost of less than Rs. 50 Crores.

[Notification No K-RERA/T3/102/2023]

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K-RERA imposed the penalty for promoters who fail to submit Quarterly Progress Report

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