Hyderabad

TS-RERA to warn public about unregistered properties

No more extension to be given to builders and developers

TS-Real Estate Regulatory Authority has decided not give any extension to the builders and developers after July 31 for properties which have been sanctioned permissions between January 1, 2017 and August 31, 2018 but have failed to register with it.

RERA Chairman informed in a release that such projects will be published with their names in press for cautioning the home buyers not to buy/purchase such plots/flats in unregistered projects apart from levying penalty.

The Real Estate (Regulation and Development) Act 2016, clearly stated that no promoter shall advertise, market, book, sell or offer for sale, or invite persons to purchase in any manner any plot, apartment or building, in any real estate project or part of it, in any planning area, without registering with the RERA.

The chairman said 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 RERA Act. Accordingly, projects approved on or after January 1, 2017 by urban bodies have to to be registered with TS RERA.

The Authority has been issuing timelines since August 31, 2018 to register for online approvals without penalty till November 30, 2018 and with penal fee of ₹3 lakh till this month end, he added.

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Printable version | Feb 22, 2020 10:08:26 AM | https://www.thehindu.com/news/cities/Hyderabad/ts-rera-to-warn-public-about-unregistered-properties/article28776786.ece

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