JAMMU, June 3 -- The Jammu and Kashmir Real Estate Regulatory Authority (JKRERA) has imposed a penalty of Rs.10,00,000 (Rupees Ten Lakhs only) on real estate developers for failing to register their ongoing real estate project located at Sang Talab, Raipur Domana, with the Authority.

The penalty of Rs. 10 lakh has been imposed for violation of Section 3 (1) of the Real Estate (Regulation and Development) Act 2016.

The Authority took suo-motu cognizance of the violation and initiated proceedings under the applicable provisions of the Act. After thorough examination, it was established that the promoters have not obtained the requisite registration from JKRERA nor have they sought any exemption or provided a justifiable reason for the omi...