Haryana RERA forfeits bank guarantees for JMS Infra Realty

JMS Infra Realty Private Limited's bank guarantees have been forfeited by the Haryana Real Estate Regulatory Authority (H-RERA), Gurugram, since the promoter was late in submitting its project's zoning plan and authorised service plans and estimates.

According to the guidelines of the RERA Act 2016, a promoter must submit the project's approved zoning plan, permit service plans and estimates within three months of receiving a RERA registration certificate (RC). JMS Infra Realty Pvt. Ltd submitted received its certification in March 2022 and gave the authority a security deposit of Rs 25 lakh for each of the factors.

JMS Infra Realty Pvt. Ltd had applied for RERA registration certificate for the creation of a plotted community called "The Nation" under the Deen Dayal Jan Awas Yojana (DDJAY) scheme in Sector 95. However, last month an official decision was taken by the H-RERA authorities to forfeit the bank guarantees submitted by the promoter since the promoter has not complied with the criteria of the registration certificate within the prescribed time period.

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Haryana RERA forfeits bank guarantees for JMS Infra Realty

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