Punjab developers found taking RERA for a ride

Punjab’s real estate developers have been found exploiting regulatory loopholes in the Real Estate (Regulation and Development) Act (RERA). Investigations revealed that several developers were taking advantage of RERA’s provisions to delay projects, evade penalties, and mislead buyers. These developers were found to be violating the act by not registering their projects and failing to deliver on promised timelines. The state government has initiated strict action against these errant developers, with penalties and legal proceedings underway. This crackdown is part of efforts to ensure transparency in the real estate sector and protect the interests of homebuyers and investors.