Developers to Pay Rs 50,000 Penalty on Late RERA Registration

Developers to Pay Rs 50,000 Penalty on Late RERA Registration in Telangana

Latest RERA Real Estate News:

Telangana Real Estate Regulatory Authority (TS RERA) fixed the last date for registering real estate projects in Hyderabad as 30 November 2018. Though they allow developers to register their projects till 7 Dec 2018, they will levy a penalty of Rs 50,000 for any such project registration.

Mr Vidyadhar, the secretary of TS RERA, confirmed the same.

How Many Projects Have Been Registered In RERA?

  • RERA portal office in Hyderabad began functioning from Sep 1st 2018.
  • The real estate developers had three months to register their projects with TS RERA.
  • Till now, about 1100 projects are registered in the TS RERA portal.

How Many Projects Are There To Register?

  • 3000 projects have got permission since January 1, 2017, under RERA act.
  • The builder/ agents can register their projects under RERA act after Dec month also.

Are There Any Penalties For Approved Projects After September 2018?

  • The builders or agents, who have approved projects after September 2018, can register with regular fee proposed by RERA. 
  • They do not have to pay any penalty.

Can Buyers Complain To The Recall On Construction Errors?

  • A consumer redressal authority will be set up by the Telangana Government soon.
  • The TS RERA Secretary, Mr Vidyadhar said that the consumer redressal authority would be set up in a week.
  • The authority aims to resolve disputes between the developers and the consumers quickly.

Complaints In RERA From Different States Are As Follows:

  • In Haryana, there are 15 to 20 complaints received per day from the consumers.  The state started receiving complaints for the last 8 months. The total number of complaints received so far is 1800. Of these, 400 are under investigation.  
  • There are 8100 complaints in Uttar Pradesh. Of these, 2200 complaints were resolved, and by January 2019, the remaining are under investigation.
  • Uttarakhand RERA also received 266 complaints. 225 projects have been registered. It is expected that the disputes between the developer and consumer will be solved within four to six months.

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By: Shailaja K