Shimla, April 19 -- The Himachal Pradesh Real Estate Regulatory Authority (RERA) has imposed a total interim penalty of Rs.70 lakh on promoters of the Chester Hills-2 and Chester Hills-4 housing projects in Solan district, following detailed investigations that revealed serious financial irregularities, alleged fund diversion, and possible violations of state land laws.

The Authority levied Rs.35 lakh each on the two projects, Chester Hills-2 and Chester Hills-4, holding the promoter M/s Chester Hills and landowner Hansraj Thakur responsible for non-compliance with provisions of the Real Estate (Regulation and Development) Act, 2016.

The action follows suo motu proceedings initiated by the regulator, which uncovered lapses in maintainin...