JKRERA Issues Notices to 20 Real Estate Owners for Non-Compliance with Registration Norms

SRINAGAR: The Jammu and Kashmir Real Estate Regulatory Authority (JKRERA) has issued notices to the owners of over 20 real estate projects in the Kashmir province, directing them to register their projects under the Real Estate (Regulation and Development) Act, 2016, within 15 days. Failure to comply will result in penalties, including fines and potential imprisonment, as per the provisions of the Act.

The inspections, led by JKRERA Chairperson Satish Chandra, aimed to ensure compliance with mandatory registration requirements under Section 3 of the Act. Among the projects inspected were Harco City Centre in Sanat Nagar, Horizon Galleria in Rajbagh, Regal Mall in Lal Chowk, Site at Bye pass road Sanatnagar Srinagar, Ahmad Plaza at Mominabad Batamaloo in front of lower court, Srinagar, Shahjar Apartments SDA land, Upper Soura Hajibagh Srinagar, Firdous colony Buchpora, Rose Hills Estate, Site at Exchange Road Srinagar, Site at Baghat Barzulla, IG Road Parraypora, Palm Spring apartments, Budgam and site at Kursoo Raj Bagh Srinagar.

Chairperson Chandra highlighted the challenges posed by unauthorised colonies lacking basic amenities such as roads, electricity, and water supply. He emphasised that registration with JKRERA is critical for ensuring planned development and safeguarding homebuyers’ interests.

“The development of colonies must follow a planned approach, adhering to the regulatory framework. Numerous unauthorised colonies are emerging without requisite approvals, creating significant risks for residents and urban planning,” Chandra said.

The inspection team, comprising Chief Revenue Officer Suhail Ahmed Chintsaz, Under Secretary Esha Chib, and other officials, noted several cases of non-compliance. JKRERA stressed that developers failing to register their projects could face penalties up to 10% of the project’s estimated cost. Persistent violations may lead to imprisonment for up to three years or further fines.

Homebuyers and other stakeholders were encouraged to approach JKRERA for assistance in resolving grievances related to real estate projects. The authority reaffirmed its commitment to ensuring planned development and holding violators accountable.