17 developers register in a monthwith RERA in Telangana

Nearly a month after Real Estate Regulatory Authority (RERA) became functional with the official launch of its website, there are hardly any takes from the realtors and developers side. Of about 5,000 ongoing projects sanctioned in the state in the past two years, only 17 developers have registered themselves and uploaded their project details. While RERA rules mandates real estate agents, too, to register on the RERA website, none of the agents have come forward to register. As per the Real Estate (Regulation and Development) Act, 2016, no promoter shall advertise, market, book, sell or offer for sale or invite persons to purchase in any manner any plot, apartment or building in any real estate project or part of it without registering with RERA. But the realtors and builders are continuing to advertise in the media and selling the projects without registration. Official sources said the developers, including those started last year, are reluctant to upload their project details and have been waiting for the last date for registration, i.e, November 30. Realtors claimed RERA authorities are not bothered to sensitize builders and developers about need to register on RERA website.