Constructions on plots exceeding 500 sq. yards and apartments exceeding 10 flats in Telangana will soon be brought under the Real Estate Regulation Act (Rera) passed by the Centre in 2016, as builders must mandatorily register these projects from July 1.
Though the state government notified Rera, aimed at protecting the interests of property buyers, in August 2017, the Act did not come into force owing to a lack of implementation guidelines. However, MA & UD minister K.T. Rama Rao and principal secretary Arvind Kumar have finalised a draft on operational guidelines and submitted it to Chief Minister K. Chandrasekhar Rao.
Official sources said an online portal is being set up to enable builders to register their projects. Trial runs of the portal will be conducted in June, and a Rera Authority constituted, to resolve issues between builders and property buyers, and impose penalties on builders in case of any violations.
Should builders fail to complete projects on time or deviate from the original plan or commit other violations, complaints may be lodged with the Rera Authority.
Of the 28 Indian states (the Act is not applicable in Jammu & Kashmir), only three — Maharashtra, Madhya Pradesh and Punjab – have appointed permanent regulators, 14 have functional web portals, and 20 have notified the rules. All seven Union Territories have notified the rules.
To enable customers to easily access project information, Rera says all states must maintain web-based portals where all developers must upload the information. But states like Haryana, Assam, Kerala, Telangana and Odisha do not have portals. Even in states like Uttar Pradesh, Bihar, Rajasthan and Andhra Pradesh, among others, where web-based portals have been launched, the information uploaded by developers is inadequate, sources said.