TGRERA Cracks Down on Real Estate Firms for Illegal Advertisements in Hyderabad
Hyderabad: The Telangana Real Estate Regulatory Authority (TGRERA) has taken a stringent stance against real estate firms engaging in illegal advertising practices. On Saturday, February 21, TGRERA issued show cause notices to several construction firms, including Vertex Virat, Godrej Properties, Navnami Elevate, Swargaseema Ameya, and Thirumala Hills, among others.
In some advertisements, the registration number was mentioned, but the ads did not comply with RERA regulations regarding font size and clarity. For instance, in the Ameya project of Swargaseema Construction, the authority found that the project, registered as a layout, was described as a residential project, along with other disclosure violations.
The RERA has warned 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 Real Estate (Regulation and Development) Act, 2016, only those real estate firms registered with TGRERA are allowed to advertise. The Act mandates that projects above 500 square meters or more than eight units must be registered, and advertisements must display a valid RERA identification number. Pre-launch marketing or promotions without approval are strictly prohibited.
This crackdown is part of TGRERA's ongoing efforts to ensure transparency and compliance in the real estate sector, protecting the interests of consumers and maintaining market integrity. The authority has made it clear that non-compliance will not be tolerated and that strict action will be taken against violators.
The Real Estate (Regulation and Development) Act, 2016, aims to regulate the real estate sector by promoting transparency, accountability, and consumer protection. It requires all real estate projects to be registered with the respective state regulatory authority, and advertisements must adhere to specific guidelines to ensure clarity and accuracy.
Hyderabad, a major real estate market in Telangana, has seen rapid growth in recent years, attracting numerous developers and investors. However, this growth has also brought challenges, including issues of non-compliance and misleading advertisements. TGRERA's actions are crucial in maintaining the integrity of the market and ensuring that consumers are not misled by unscrupulous practices.
Real estate developers and agents are advised to review their advertising materials and ensure compliance with RERA regulations to avoid legal repercussions. Consumers are also encouraged to verify the RERA registration of projects before making any investment decisions.
