RERA imposes Rs 5 crore penalty on Vatika Ltd

The Real Estate Regulatory Authority (RERA), Gurugram, has fined Vatika Limited Rs 5 crore for breaching Section 3 (1) of the Real Estate (Regulation and Development) Act 2016. Vatika had started its Vatika India Next residential project in 2013 but failed to apply for RERA registration within the required three months after the Act's notification in Haryana in 2017. Despite RERA's intervention in 2022, the promoter delayed registration until then. RERA deemed this a serious violation, mandating registration for all ongoing projects initiated before the Act took effect.