JAIPUR: The Real Estate Regulatory Authority (RERA) will now impose 10% of the project cost on developers who have not registered their ongoing project with regulatory authority till September 30.

The authority had provided September 30 deadline to register ongoing projects after paying 2% of project cost as penalty. “As the extended deadline is now over, the regulatory authority will impose 10% of the project cost and registration fee on developers to register their ongoing projects with RERA,” said a senior RERA official.

Under section 3 of RERA Act, 2016 developers were provided 90 days to register after the Act came into effect on May 1 in the state. After RERA Act came into force, chief minister Vasundhara Raje launched the RERA website on June 1. It became mandatory for all the builders and real estate agents to register on the website till July 31. However, on the request of developers an extension of one month was provided (till August 31) to register with regulatory authority after depositing Rs 50 per square metre. “So far, 570 developers have submitted their application for registering their ongoing project with RERA. Out of which, registration certificates are been issued to 260 developers.”