AP Real Estate Regulatory Authority Warns Against Unregistered Property Purchases
Vijayawada: The Andhra Pradesh Real Estate Regulatory Authority (APRERA), led by In-charge Chairman and Municipal Administration Principal Secretary S Suresh Kumar, has issued a strong warning to the public against purchasing flats in apartments or plots in layouts that are not registered with APRERA.
It has come to the notice of APRERA that some developers, promoters, and builders are collecting advance payments from buyers under the guise of ‘pre-launch' activities for proposed real estate projects. These activities are taking place before the projects have been registered with APRERA. Additionally, some real estate agents are involved in marketing such pre-launch projects.
As per Section 3 of the Real Estate (Regulation and Development) Act, 2016, no promoter shall advertise, market, book, sell, offer for sale, or invite persons to purchase any plot, apartment, or building in any real estate project without registering the project with APRERA. Furthermore, Section 10 of the Act states that no real estate agent shall facilitate the sale or purchase of any plot, apartment, or building in a project that is not registered with APRERA.
Suresh Kumar has sternly advised all developers, promoters, builders, and real estate agents to refrain from engaging in any financial transactions or promotional activities with buyers in the name of ‘pre-launch' for unregistered real estate projects. He emphasized that any violation will attract strict legal action by APRERA under the provisions of the Act.
To protect their interests, buyers are encouraged to contact the APRERA helpdesk for information on specific projects or to seek redressal for issues such as delay in possession, poor construction quality, or other grievances. APRERA is committed to ensuring transparency and protecting the rights of homebuyers in the real estate market of Andhra Pradesh.
The Real Estate (Regulation and Development) Act, 2016, was enacted to regulate the real estate sector and promote transparency, accountability, and consumer protection. APRERA plays a crucial role in enforcing the provisions of the Act and ensuring that all real estate projects in Andhra Pradesh are registered and comply with the legal requirements.
By adhering to the guidelines set by APRERA, developers and real estate agents can build a trustworthy and reliable market, while buyers can make informed decisions and avoid falling into legal traps. APRERA continues to monitor the real estate market closely and take necessary actions to maintain the integrity of the sector.