Telangana RERA Cracks Down on Realty Firms for Non-Compliance
The Telangana Real Estate Regulatory Authority (TGRERA) has issued notices to six real estate companies for violating norms
Telangana ReraReal Estate Regulatory AuthorityRealty FirmsNon CompliancePre Launch SalesCheatingHomebuyersReal EstateMay 28, 2024
The other companies that received notices were Pragya Ecospring (Miyapur), Sri Siddi Vinayaka Property Developers in Chintalkunta (LB Nagar), North East Habitation (Kondapur), VR Promoters and Developers (Sangareddy), Invest Infra Project (Kukatpally Housing Board Colony), and Bharti Lake View Towers (Kompally). They have been asked to respond within 15 days.
According to the authority, the notices were served based on complaints from homebuyers, online advertisements, and publicity through pamphlets. The violations can range from cheating and not registering with TGRERA, among others. It's only after they respond to the notices that the offences will be established.
TGRERA said that in the 11 months since the authority was fully formed, 210 complaints were adjudicated. With TGRERA, 8,270 projects have been registered so far, and 918 projects were found to have violated RERA norms. As a result, Rs. 30.99 crore were imposed as a delinquency fee, and Rs. 13.7 crore were recovered.
The Telangana Real Estate Regulatory Authority (TGRERA) is a regulatory body established under the Real Estate (Regulation and Development) Act, 2016, to ensure transparency and accountability in the real estate sector.
TGRERA is committed to protecting the interests of homebuyers and promoting a transparent and sustainable real estate industry in Telangana.'
Frequently Asked Questions
What is the role of TGRERA?
TGRERA is a regulatory body established to ensure transparency and accountability in the real estate sector in Telangana
How many projects have been registered with TGRERA?
As of now 8 270 projects have been registered with TGRERA
What is the penalty for non-compliance with RERA norms?
The penalty for non-compliance with RERA norms can range from delinquency fees to legal action
How many complaints have been adjudicated by TGRERA?
TGRERA has adjudicated 210 complaints in the 11 months since its formation
What is the purpose of serving notices to realty firms?
The purpose of serving notices is to establish the offences committed by realty firms and take necessary action to protect homebuyers' interests
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