Telangana: With only 820 realtors registering, TSRERA to extend deadline again

Realtors in the State may get another chance to register their projects as  the Telangana State Real Estate Regulatory Authority (TSRERA) is likely to extend the deadline.  

Realtors in the State may get another chance to register their projects as  the Telangana State Real Estate Regulatory Authority (TSRERA) is likely to extend the deadline.  The deadline has already been extended five times now with only 820 projects being registered with the authority till date. 

The projects approved by the GHMC and HMDA from January 1, 2017 have to be registered with the authority, which came into existence in August last year. But due to poor compliance, less than half of the projects were only registered despite getting approvals.  Projects such as apartment complexes of more than eight units or layouts and agents have to register themselves under the Real Estate (Regulation and Development) Act.

TSRERA chairman Rajeshwar Tiwari told Express that so far only 820 projects and  600 agents have been registered.  “We keep extending the deadline for registration. Our aim is that if realtor has to work, he needs to get registered,” Tiwari said. An estimated 5,000 projects were approved since January 2017. Though the same number of projects should ideally get registered with TSRERA, the same does not seem to be happening. 

“The basic purpose of RERA is to follow all guidelines of approval and give the best product to the public,” Tiwari said. It may be noted that the RERA authority acts for accountability on the status of completion of projects. As per norms, developers have to furnish information on TSRERA website on the facilities available, permissions sought and the progress of the project. It was in April that the deadline to register projects with TSRERA was extended to May 31 with a fine of `3 lakh. “No decision has been taken about the penalty, but the deadline will be extended,” Tiwari said.

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