Realtors asked to register with RERA by March 31

Hyderabad: All the Real Estate projects builders and promoters of Telangana state have been informed that the projects of layout developments approvals and the building projects taken up in the plot area of more than 500 sq mts i. e., apartments (having more than 8 units ) and commercial buildings approvals obtained in between 01-01-2017 and 31-08-2018 from the respective local bodies are to be invariable registered their projects under TS-RERA before March 31 duly paying Rs. 2 lakh as penalty.

This facility has to be availed by all the real estate builders and promoters to avoid further huge penalties and action to be initiated by the TS -RERA for non registering their projects. The official teams of TS-RERA are inspecting all the metro regions of the Hyderabad city and identifying the real estate projects ( layouts and buildings) , which are taken up without registration under REM and initiating action as per provisions of TS-RERA act by issuing notices and imposing heavy penalties on the defaulters.

Further, most of the unregistered real estate projects under RERA are advertising their projects through daily newspapers, broachers, and TV ads and also through social media. Which is against to the provisions under rule 3(1) of the TS-RERA act and also liable for imposing heavy penalties besides initiating action. Hence all the real estate developers and promoters are not to publicise their unregistered projects through advertisements in any manner and defaulters are liable to face the consequences as per TS-RERA rules. Therefore all the real estate developers and promoters are once again informed to register their projects on or before 31-03-2019 with penalty, failing which they shall be liable for further heavy penalties besides actions to be initiated as per provisions of TS-RERA Act.