In a recent development, the Telangana government directed all developers to get their projects registered under Telangana State Real Estate Regulatory Authority i.e. TS RERA. The decision implied on those developers and builders who have obtained permission for property projects on or after January 1, 2017, to get their projects registered with the concerned authority, immediately.
According to an official release, “The official website is rera.telangana.gov.in” and as per Real Estate (Regulation and Development) Act, 2016 and Telangana Real Estate (Regulation and Development) Rules, 2017, notified by the Telangana state government, all the real estate projects approved on or after January 1, 2017 having above 500 sq. mts. plot area or more than eight units have to be registered with the authority, the release said.
The developers are also alerted about the penalty they are required to deposit in case they fail to get their projects registered with immediate effect.
The Telangana RERA Act came into action from September 19, 2018. although the announcement to bring this portal into action was done a year ago. In order to implement the law successfully in the state, the administration also worked on the web portal.
The RERA office and the web portal was launched at Masab tank by KT Rama Rao, the Municipal administration minister and the web portal will help the residents of Telangana state to file property-related complaints. The TSRERA is launched in collaboration with Maharashtra’s Mahaonline to maintain web portal for three consecutive years from the date of its launch. The Telangana State RERA will update all property data and information by working on the line of Mahaonline model.
To get themselves register under TS RERA the developers are required to make a one-time payment of Rs. 750 as the registration fee the act. Similarly, the real estate agents are required to pay a registration fee of Rs.500 under the RERA Act. The payment of these two registrations will be forwarded to Mahaonline as the registration fee.