HYDERABAD: Telangana State Real Estate Regulatory Authority (TSRERA) has decided to levy heavy penalty of `3 lakh each for every application for registration of real estate project received between May 1 and 31.
All the applications received after April 30 for registration of project have violated provision of TSRERA Act, and therefore, their applications are liable for rejection under the Act.
The authority, however, has decided that it may not be appropriate to outrightly reject the applications. Therefore, in the exercise of the powers vested under Section (59) of the Real Estate (Regulation and Development) Act, 2016 TSRERA has once again decided to give one more opportunity by charging `3 lakh as penalty, if registration is done on or before May 31, 2019.
The move has come in the wake of its decision to keep the process of registration of ongoing projects open for which permission has been taken between January 1, 2017 and August 31, 2018 from the competent authorities. After the application has been made by the promoter, the Authority would communicate through a pop-up notice/e-mail, to the promoters, who have uploaded their application between May 1 and May 31 asking them to pay the penalty online for late registration.
If the promoter does not agree to pay the penalty, his application would be further processed as per the provisions of Section 5(1)(b) of the Real Estate (Regulation and Development) Act 2016, a communication from the RERA said.