The Tamil Nadu Real Estate Regulatory Authority (TNRERA) has directed all developers to furnish details on the quarterly progress of housing projects registered with the real estate authority.
According to a notice uploaded on the web portal of the Tamil Nadu RERA authority says that all the registered developers are required to submit the project report for each quarter of their projects starting from the date of registration. This submission should be made under Rule 17 of the Tamil Nadu Real Estate (Regulation and Development) Rules 2017.
The developers are also required to submit information such as the number and types of apartments or plots booked, number of parking lots, stage of construction of each floor and basic amenities offered in the projects along with their supporting photographs. The developers are also required to submit the sanction letter received from the banks and other finance companies from which they have availed loan to the state RERA authority in PDF format.
This year 400+ housing projects have been registered with the Tamil Nadu RERA. The Real Estate Act in this southern state came into effect after the Government issued notification of the Tamil Nadu Real Estate (Regulation and Development) Rules, 2017 in June 2017. The housing projects having a minimum of eight units and new residential layouts must be registered with the TNRERA.
Earlier, the Tamil Nadu Government set guidelines for the property tax collection to make this collection an easy process to follow by both the officials and the taxpayers. The Chennai Corporation has also decided to alert the property taxpayers by sending them an SMS to make a self-declaration of their house/flat details for property tax purposes. The SMS alert service will be the part of a revised tax system.