Digital payments, easier processes soon in TS-RERA

Special CS Somesh Kumar assures transparency in the regulatory body

Digital payments would be initiated in TS-Real Estate Regulatory Authority immediately, putting an end to cash payments by builders and real estate developers for registering their projects, said Special Chief Secretary and TS-RERA Chairman Somesh Kumar on Thursday.

“The RERA is a good initiative, but there are several issues pertaining to its implementation as we have not really understood the spirit of it. Other stakeholders too have a responsibility in this regard. Rather than seeking unnecessary details, we should help the real estate sector as any slip will cause a spiral effect,” he said.

Assuring more simplified processes, transparency and quick decision-making in the TS-RERA in the days to come, Mr. Kumar said necessary steps would be taken to ensure that sharing of project details between the sanctioning authority like the municipal corporation or the urban development authority and the regulatory body would be taken up to save time and duplication.

“Whatever the sanctioning authorities like the GHMC or HMDA seek, we should not do it again. We can do a web link between them and the TS-RERA so that only additional details are collected, if necessary. The present four-level scrutiny will also be cut down and all queries should be raised in the first stage itself so that registrations are done in less than two weeks,” he told an interactive session organised by the Confederation of Indian Industry (CII).

Pointing out that the real estate industry has been the largest employment generator in the country, he said easier modes of doing businesses would help everyone. He also said he would look into the issues raised at the meeting on calculating tax on undivided share, formation of appellate tribunal and property tax assessment.

To a query, he accepted that there should be no need for any ‘request’ for property tax assessment and it should be done online without much fuss considering that the municipal authority has all the details.

The Special CS also explained the reforms initiated in the Excise Department which helped bring in more revenue even as processes were made simple and easy to understand.

Earlier, real estate developers listed out the issues that they have been facing with the RERA. “Builders too have grievances like delays in getting permissions for water, power and occupancy certificates. The TS-RERA can play a more proactive role in resolving problems and prevent from bodies like the NCLT entering into the arena,” said C. Shekar Reddy, convenor-infra and real estate panel, CII.

Real estate developers C. Prabhakar Rao and R. Chalapathi Rao also highlighted the issues of non-adherence to the master and zonal development plans in urban areas and variable GST rates costing the customer dearly among others.

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Printable version | Feb 28, 2020 3:04:05 PM | https://www.thehindu.com/news/cities/Hyderabad/digital-payments-easier-processes-soon-in-ts-rera/article29850517.ece

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