latest announcement of telangana rera rules

rera [real estate (regulation and development) act] finally notified the detailed set of rules for the real estate sector to regulate the real estate sector in hyderabad.

the measures that are already taken up by officials are:

• the government has studied the implementation of rera in maharashtra and other states.
• they found maharashtra rera will simplify the projects registration process.
• the agreement has been made with maha online limited, a joint venture between maharashtra government and tcs to develop telangana rera web portal.

latest developments in the implementation of rera portal

the municipal administration department has approached maha online limited, a joint venture between maharashtra government and signed the contract of three years to maintain a similar portal for telangana.

• on 31st august 2018, mr kt rama rao, municipal administration minister inaugurated the rera portal office in hyderabad.
• the rera portal office is at masab tank, hyderabad.
• the government officials confirmed testing the functionality of the rera hyderabad website to avoid the technical glitches in the future.
•  maha online (mumbai) develops the online registration system of the hyderabad rera portal. ts online will provide local technical support.
• over 5000 firms have got permissions for constructions under greater hyderabad municipal corporation (ghmc) and hyderabad metropolitan development authority (hmda) and would register with online rera portal.
• the portal also implemented the global positioning system (gps) to find the exact location of the real estate project.

telangana rera portal has notified the following rules:

• real estate builders and agents have to pay a one-time registration fee to state government for online registration under rera. they must register by paying the following charges:

registration fee is

for builders rs.750

for agents rs.500

• the builder and agents have to compulsorily register the commercial and residential projects, where the project/apartment is proposed to exceed five hundred square meters (500 sq. mt.), or more
• the penalty will be levied on both builders and agents for non-registration and violations of rules specified under rera.

benefits for the buyers with the implementation of rera portal are:

• regulate and promote the realty sector.
•  protect the interest of consumers.
•  promote fair transactions in the real estate sector.
•  ensure timely execution of projects.
• conduct speedy redressal of disputes between developer and consumer.

visit https://propertyadviser.in to know latest updates of telangana rera in hyderabad.

by: shailaja k