In a significant development, the Gurugram bench of the Haryana Real Estate Regulatory Authority (HRERA) has slapped a penalty of Rs 50 lakh on Countrywide Promoters Private Limited for disseminating a misleading advertisement related to its real estate project, Green Oaks. The HRERA penalty on Countrywide Promoters for the Green Oaks advertisement was imposed following an investigation into an advertisement published in an English daily on March 2, which the authority deemed as misleading and violative of the Real Estate (Regulation and Development) Act 2016.
The advertisement in question featured images of amenities such as a garden/park (Garden of Dreams), a club, a squash court, a state-of-the-art clubhouse, a covered pool and spa, an outdoor library, rejuvenating sculptural rocks, a coffee lounge counter, among others, which were not part of the actual project. The HRERA found this portrayal to be deceptive and aimed at misleading potential buyers.
Countrywide Promoters Private Limited is currently developing an affordable plotted colony, Green Oaks, at Sector 70-A, Gurugram, under the Deen Dayal Jan Awas Yojna Affordable Plotted Housing Policy 2016. Despite obtaining RERA registration for the project in 2021, the promoter failed to provide accurate details in the advertisement, including the actual layout or site plan of the project, as required under the Act.
The HRERA penalty on Countrywide Promoters for the Green Oaks advertisement serves as a reminder to real estate developers to ensure compliance with regulatory norms and to provide accurate and transparent information in their advertisements. It also underscores the role of regulatory authorities in safeguarding the interests of homebuyers and maintaining transparency in the real estate sector.
Read more: UP-RERA Imposes Penalty for Misuse of Legal Process: A Step Towards Fairness in Real Estate
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