Defaulters will have to cough up Rs 1 lakh for Telangana RERA registration
Realtors who have not registered their ongoing projects with the Telangana State Real Estate Regulatory Authority (TSRERA) will now have to cough up a penalty of Rs 1 lakh for registering such projects with the state realty regulator. The penalty will be applicable for registration of ongoing projects, for which permission was taken from the competent authorities (civic body/municipality/UDAs etc) between January 1, 2017 and August 31, 2018, but were not registered by December 15, 2018. The three-month period laid down by TSRERA for registration of such projects ended on November 30, 2018. TSRERA, which took this decision at a meeting on Saturday, has now decided to allow realtors to register their ongoing projects online between on or before December 31, 2018, after payment of the Rs 1 lakh penalty. “After detailed discussion and taking into consideration the facts and present position, TSRERA has decided that all applications received after December 15, 2018, for registration of projects have violated provision of Section 3 (1) of Real Estate (Regulation and Development) Act 2016. The applications are liable for rejection under Section 5 (1)(b) of the Act,” said the order issued by TSRERA chairman Rajeshwar Tiwari on Saturday. “The authority has decided that it may not be appropriate to outrightly reject the applications. Therefore, TSRERA has decided to give one more opportunity,” the order said.
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