HYDERABAD: The Telangana Real Estate Regulatory Authority (TSRERA) has decided to accept applications for registrations till December 31 with a penalty of Rs 1 lakh. During a meeting held here on Saturday, TSRERA chairman Rajeshwar Tiwari said RERA has decided that it would not be appropriate to reject applications and decided to accept applications till December 31 with a penalty of Rs 1 lakh.
As per RERA Act, 2016 it is mandatory on the part of the promoter to make application for registration of the ongoing projects within three months from the date of commencement of Real Estate (Regulation and Development) Act, 2016.
As per ‘the Telangana state Real Estate (Regulation and Development) Rules,2017, the projects which are approved on or after January 1, 2017 by the competent authorities viz., UDAs/DTCP/ Municipal Corporations/ Municipalities TSIIC as the case may be, are to be registered with TS RERA.