HYDERABAD: Telangana State Real Estate Regulatory Authority (TSRERA) has decided to levy a penalty of Rs 50,000 on applications received after December 1. A decision to this effect was taken during a meeting of TSRERA. After a detailed discussion, and taking into consideration the facts and present position, TSRERA has decided that all applications received after November 30 for the registration of a project have violated provision of section 3 (1) of Real Estate (Regulation and Development) Act 2016. Therefore, their applications are liable for rejection under section 5 (1)(b) of the Act.
However, the Authority has decided that it might not be prudent to out-rightly reject applications. As per the powers vested under section (59) of the Real Estate (Regulation and Development) Act, 2016 TS RERA, it has decided to give applicants one more opportunity by charging them a Rs 50,000 only as penalty, if registration is done on or before December 7.
TSRERA has decided to keep the registration process of ongoing projects open for which permission has been taken between January 1, 2017 and August 31. After the application is been made by a promoter, the department will communicate through a pop-up notice and e-mail, asking them to pay online penalty for late registration. If the promoter does not agree to pay the penalty, the application would be processed as per the provisions of the Act.
As per TSRERA Act 2016, it is mandatory on the part of the promoter to submit applications for registration of ongoing projects within a period of three months from the date of commencement of the Act.
On inauguration day of TSRERA office on August 31, State Government had announced a time line to register projects before November 30 for the projects approved between January 1 and August 31, 2018.