Haryana real estate regulator forfeits bank guarantees of JMS Infra Realty

HRERA, Gurugram has forfeited bank guarantees of real estate promoter JMS Infra Realty as promoter failed to submit approved service plans and estimates as well as zoning plan of its project on time

The Haryana real estate regulatory authority (HRERA), Gurugram has forfeited the bank guarantees of real estate promoter JMS Infra Realty Private Limited as the promoter failed to submit approved service plans and estimates as well as zoning plan of its project on time.

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

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

"Since the promoter has not complied with the conditions of the registration certificate within stipulated time period, therefore the bank guarantees submitted by the promoter are being forfeited by the authority," said the authority order issued on January 16.

The promoter had obtained the RERA registration certificate for development of a plotted colony -- 'The Nation'-- under the Deen Dayal Jan Awas Yojana (DDJAY) scheme at Sector 95, Gurugram.