RERA Tamil Nadu

RERA Tamil Nadu

The TNRERA, also known as the Tamil Nadu Real Estate Regulatory Authority, was established by the Government of Tamil Nadu as per the Real Estate Regulatory Act, 2016. The authority was established to oversee fair and transparent real estate dealings across the state. Its jurisdiction extends to the Andaman and Nicobar Islands as well.

The main objective of the RERA Act is to bring in accountability, transparency and efficiency in the real estate sector of Tamil Nadu. Launched in March 2016 as part of the broader RERA initiative, TNRERA ensures compliance with the standard RERA Act and regulates all aspects of the real estate sector in Tamil Nadu.

Why You Should Prefer RERA Approved Projects in Tamil Nadu

TNRERA offers numerous advantages to homebuyers, including:

• Enhanced Transparency: RERA mandates real estate developers to disclose comprehensive information regarding their projects, such as project plans, land titles, construction schedules, and payment plans. This empowers homebuyers with access to crucial details and keeps them informed about their investments.

• Grievance Redressal: RERA establishes a platform for homebuyers and regulatory authorities to address complaints against real estate developers promptly. For example, under RERA Chennai Metropolitan Development Authority (CMDA), developers failing to submit an application for a completion certificate may face action.

• Curbing Fraudulent Practices: TNRERA serves as a deterrent against fraudulent activities by imposing strict penalties and remedies on developers and promoters engaging in unfair practices.

• Timely Project Completion: TNRERA ensures developers adhere to agreed project completion timelines, minimizing delays and safeguarding the interests of buyers.

• Legal Compliance: The Tamil Nadu Real Estate Regulatory Authority (General) Regulations, 2018, outline all legal requirements and obligations for parties involved in real estate projects registered under TNRERA.

• Accessibility: All records of housing projects in Tamil Nadu can be easily accessed through the TNRERA website. This accessibility allows all involved parties to address disputes promptly, fostering transparency and trust.

• Protects Project Completion: Up to 70% of your funds are held securely in an escrow account until construction milestones are met.

• Reduced Builder Risk: Limited upfront payments (maximum 10%) before the sale agreement minimizes the impact of potential builder insolvency.

• Fair Payment Terms: Both buyers and builders receive the same interest rate for any delayed payments.

How to Check Whether the Project is RERA Approved in Tamil Nadu

Here are some of the steps involved to check if a project is RERA approved in Tamil Nadu: 

• Step 1: Visit the official website of TNRERA.

• Step 2: Once there, click on the “Registrations” tab and select “Registered Projects – Tamil Nadu” under the “Projects” section.

• Step 3: You will then be presented with three options: Building, Normal Layout, and Regularisation Layout. Choose the option that best fits your needs.

• Step 4: After selecting an option, proceed to choose the desired year on the following page.

• Step 5: A list of projects registered with TN RERA will then appear. Locate your desired project and click on the links provided under “Other Details” to access comprehensive information.

How to Register a Complaint under RERA in Tamil Nadu 

Follow these steps to register a complaint under RERA in Tamil Nadu: 

•    Step 1: Access the official TNRERA website's online portal.

•    Step 2: Navigate to the “Complaints” section for filing complaints online.

•    Step 3: Choose between Form M (for addressing the real estate regulatory authority) and Form N (for addressing the adjudicating officer).

•    Step 4: Sign in to the portal using your email ID and password.

•    Step 5: If you don't have an account, opt for New Registration to set one up.

•    Step 6: Once you are logged in, the portal will guide you through filing the complaint, including providing your name, address, and uploading necessary documents.

•    Step 7: After submitting the complaint, proceed to the payment section. Payment can be made online or offline.

People Also Ask

Here are some of the frequently asked questions about RERA Tamil Nadu:

1. Which real estate projects are covered under RERA?

According to RERA regulations, any real estate projects above a certain size (residential and commercial projects) must be officially registered with the regulatory body of the respective state. This rule guarantees that developers cannot initiate projects without first acquiring necessary approvals and clearances.

2. What are the key obligations of real estate developers under RERA?

Developers must furnish the original blueprints for every project they undertake and cannot modify them without the buyer's consent. According to RERA regulations, developers must sell properties based on carpet area rather than high-density area.

3. How does RERA protect homebuyers' interests?

RERA grants purchasers the authority to access essential information about real estate projects they consider investing in. This enables buyers to make well-informed choices by providing them with precise, up-to-date data and cost estimates, free from discrepancies or deceptive advertisements.

4. What is the role of the Real Estate Regulatory Authority (RERA) in each state?

RERA establishes rules and regulations for real estate developers, guaranteeing they follow quality standards, construction regulations, and finish projects on time. It makes developers responsible for any deviations from the agreed terms and conditions.

5. What remedies are available to homebuyers if a developer violates RERA provisions?

Homebuyers have various options under RERA, such as:

• Getting a refund of the paid amount along with interest if the developer doesn't hand over the property within the agreed timeframe.
• Receiving compensation for any losses incurred due to delays or failure to comply by the developer.
• Having any structural defects or shortcomings in the property fixed.
• Terminating the agreement and getting a refund along with interest if the developer breaches any terms of the contract.