Patna: The real estate regulatory authority (Rera), Bihar, has given builders another extension, asking them to register their projects by the end of this month.

The builders and developers, however, would have to pay 300 per cent of the registration fee as fine along with the normal fee for availing of this benefit.

This is the second time Rera Bihar is extending the deadline. After the end of the April 30 deadline set earlier for registration of such projects, it had set 100 per cent fine on the registration fee or Rs 1 lakh, whichever is higher, for delayed registration.

Under the Act's provisions, any builder or developer undertaking an ongoing project or starting a new project spread over more than 500 square metres or an apartment having more than eight flats, needs to register the project with Rera, failing which punitive action can be initiated against the builder. As per the Real Estate (Regulation and Development) Act, 2016's provisions builders and developers needed to register their ongoing projects till July 31 last year but after few extensions given by the state government, April 30, 2018, was fixed as the last date of registration for all such projects.

"We have given this extension as the last opportunity for builders and developers to register their ongoing projects with a hope that compliance rate would increase," Rera Bihar member R.B. Sinha told The Telegraph.

He said registration application for 376 ongoing projects had been received at the authority end till May 31 and a sum of around Rs 1 crore had been collected a registration fee. "On the last day of the extended deadline, we got at least 50 applications," Sinha said.

The Rera member said after the June 30 deadline no extension would be given to any builder for registering the ongoing project and they would be dealt with as per provisions of the Real Estate (Regulation and Development) Act, 2016.

"There is a provision of imposing fine up to 10 per cent of the total project cost on builders who do not register their ongoing project with the authority. We hope the builders will not let such a situation arise and will get themselves registered during this extended period," Sinha said.

The warning assumes significance as according to the information gathered by Rera Bihar, the number of ongoing projects in the state is from 1,500 to 2,000 whereas only 376 applications had been received till May 31.