Hyderabad: TGRERA Issues Show Cause Notices to Realty Firms for Illegal Ads
Hyderabad: The Telangana Real Estate Regulatory Authority (TGRERA) has taken a strong stand against illegal advertising by issuing show cause notices to several construction firms. The action was taken on Saturday, February 21, to ensure compliance with the Real Estate (Regulation and Development) Act, 2016 (RERA).
Construction firms, including Vertex Virat, Godrej Properties, Navnami Elevate, Swargaseema Ameya, and Thirumala Hills, among others, were served notices for flouting the rules. In some advertisements, the registration number was mentioned, but the ads did not comply with RERA regulations regarding font size and clarity.
In the case of the Ameya project by Swargaseema Construction, the authority found that the project, registered as a layout, was marketed as a residential project, along with other disclosure violations. These discrepancies can mislead potential buyers and investors, leading to financial and legal complications.
The RERA has issued a stern warning to promoters, developers, real estate agents, and advertising platforms against the release of pre-launch advertisements or soliciting investments without obtaining valid TG-RERA registration. According to the Act, only those real estate firms registered with TGRERA are allowed to advertise their projects.
The Real Estate (Regulation and Development) Act, 2016, mandates that projects above 500 square meters or more than eight units must be registered. Advertisements must display a valid RERA identification number. The Act does not allow pre-launch marketing or promotions without the necessary approval.
These measures are crucial to maintain transparency and protect consumers from fraudulent practices in the real estate sector. TGRERA's proactive approach ensures that developers adhere to the regulations, thereby fostering a fair and trustworthy market environment.
For the latest updates on Hyderabad and other regions, stay connected with us through our WhatsApp and Telegram channels. Download our app for Android and iOS to get the latest news and updates right at your fingertips.