Haryana RERA revokes JMS Infra Realty’s bank guarantees

The promoter was required to submit the approved service plans and estimates and the approved zoning plan of the project within three months to obtain RERA registration certificate (RC) in March 2022

The bank guarantees of real estate promoter JMS Infra Realty Private Limited have been forfeited by the Haryana real estate regulatory authority (HRERA) Gurugram because the promoter was late with the submission of its project’s zoning plan, approved service plans, and estimates.

According to the conditions for granting a RERA registration certificate (RC) in March 2022, the promoter was required to submit the project’s approved service plans and estimates, as well as the approved zoning plan, within three months. The promoter had submitted Rs 25 lakh each for the two conditions as a security deposit with the authority.

The authority said that the bank guarantees were submitted to the authority by the promoter as security for the timely submission of approved service plans, estimates and approved zoning plans as stated in the registration certificate, which was issued to the promoter by the Haryana real estate regulatory authority, Gurugram in March 2022.

The authority’s order from January 16 stated, “The bank guarantees submitted by the promoter are being forfeited by the authority since the promoter has not complied with the conditions of the registration certificate within the stipulated time period.”

For the development of a plotted colony called “The Nation” under the Deen Dayal Jan Awas Yojana (DDJAY) program in Sector 95, Gurugram, the promoter acquired the RERA registration certificate.

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