The Haryana Real Estate Regulatory Authority (RERA) in Gurugram has levied a fine of Rs25 lakh on the promoter of Yashvi Homes Private Limited. This penalty stems from what RERA deemed a “misleading advertisement” regarding a Deen Dayal Awas Yojana (DDJAY) project, as reported in a leading daily.
Yashvi Homes Private Limited is behind the development of the DDJAY residential project called Golden Gate Residency in Sector 3, Farukhnagar, Gurugram. The project falls under the Deen Dayal Awas Yojana 2016; however, an advertisement in the newspaper erroneously referred to it as DDJAY 2024, stated a RERA official.
Taking initiative, RERA flagged the advertisement as entirely misleading and issued a stern warning to real estate promoters against such practices in the future.
Furthermore, the promoter neglected to include crucial details in the advertisement, such as the project’s registration number and the Authority’s website address, which are mandated by regulations.
RERA stipulates that any advertisement or prospectus released by the promoter must prominently feature the Authority’s website address, where comprehensive project details are listed, along with the registration number provided by RERA.
Additionally, the official highlighted discrepancies between the amenities promised in the advertisement and those approved in the project’s layout plan submitted during registration. Amenities like schools, clubhouses, swimming pools, badminton courts, and half basketball courts, mentioned in the advertisement, are not part of the sanctioned layout plan.
This move by RERA serves as a reminder to developers to adhere strictly to regulations and uphold transparency in their dealings to avoid penalties and maintain trust with consumers.