Telangana State Real Estate Regulatory Authority (TS-RERA) has once again decided to give one more opportunity to the real estate project developers for registering their respective ventures by charging an enhanced ₹3 lakh as penalty, if done by April 30.
This process of registering of projects has been kept open for which permission was taken between January 1, 2017, and August 31, 2018, from competent authorities — municipal or urban development authorities — across State, said TS-RERA chairman Rajeshwar Tiwari in an official release here.
It is mandatory on the part of the promoter to make application for registration of ongoing projects within a period of three months from the date of commencement of Real Estate (Regulation and Development) Act, 2016. And, as per Telangana state Real Estate (Regulation and Development) Rules, 2017, projects approved on or after January 1, 2017, are to be registered with TS-RERA.
From August 31 last year, TS-RERA has been issuing timelines for registration of projects online with the first deadline being November 30, 2018. Ever since, it has been extending deadlines and increasing penal amounts. Mr. Tiwari said applications received after March 31 for registration of projects have violated RERA Act provisions and their applications could be rejected.