TS RERA keeps realty in check
For consumer protection, the regulatory body has been streamlining practices and ensuring transparency in the system
Hyderabad: Ever since the Real Estate Regulatory Authority (RERA) came into effect in the State, things have started to slowly yet surely get streamlined in the real estate sector practices.
To begin with, a discipline is being followed by the promoters in terms of advertising their projects as it is mandatory for them to mention the RERA registration number in the advertisements. Promoters and builders have all been registering their projects with RERA and the guidelines are being adhered to, especially in terms of addressing consumer grievances, if any.
Since RERA’s aim is to ensure consumer protection, practices were getting streamlined, said RERA Member Secretary K Vidhyadhar.
“Unlike in other States, there were not many complaints in Telangana and this was mainly due to mortgage clause as per GO 168. If a builder has to dispose the mortgaged units in a project, all the parameters have to be fulfilled,” he explains.
There have been instances when RERA issued notices to builders for failing to meet certain parameters, including failure to register their project and sought penalty on late submission of building approvals etc, he said.
All these factors were definitely aiding in streamlining the practices and ensuring transparency in the system.
“RERA pitches in to ensure consumer protection. It is the local body, which needs to act against unauthorised structures,” says Vidhyadhar.
The Telangana government notified the Telangana Real Estate (Regulation & Development) Rules 2017 on July 31, 2017 for regulation and promotion of real estate sector in the State. Accordingly, RERA had made online registrations for projects approved between January 1, 2017 and August 31, 2018 mandatory.
Key components
Real Estate (Regulation and Development) Act, 2016
- Real Estate Regulatory Authority and Appellate Tribunal
- The authority shall establish an adjudicating mechanism for speedy redressal of dispute regarding registered real estate projects.
Responsibilities
- Ensuring disclosures of real estate projects by promoters
- Real estate projects registration
- Real estate agents registration
- Complaints redressal
Agents registration
- All real estate agents are required to register under this Act. No agent shall facilitate sale or purchase of or act on behalf of any person to facilitate the sale or purchase of plot, apartment or building, as the case may be, in a real estate project or part of it, without obtaining registration under this section.
Projects registration
All commercial and residential projects will have to register except in projects where:
- Area of land proposed to be developed does not exceed 500 sq metres
- Number of apartments proposed to be developed does not exceed 8 inclusive of all phases
- Building permissions were approved prior to January 1, 2017 by competent authorities
- For renovation or repair or re-development which does not involve marketing, advertising, selling or new allotment of any apartment, plot or building, under the real estate project
- No promoter shall advertise, market, book, sell or offer for sale any plot, apartment or building within Telangana, without registering the project with TSRERA
- Promoter of ongoing real estate projects, in which all buildings as per sanctioned plan have not received Completion Certificate, shall also be registered for such phase of the project, which consists of buildings not having Occupancy Certificates
Filing of complaints
- A person may file a complaint with TSRERA for any violation or contravention of the provisions of this Act
- Any person aggrieved by any direction or decision or order made by TSRERA may file an appeal before the Appellate Tribunal
- Any person aggrieved by any decision or order of the Appellate Tribunal, may file an appeal to the High Court
Now you can get handpicked stories from Telangana Today on Telegram everyday. Click the link to subscribe.
Click to follow Telangana Today Facebook page and Twitter .
