RERA Telangana

RERA Telangana

The Real Estate Regulatory and Development Act was introduced in Telangana on August 4, 2017, to make the real estate sector transparent, accountable and efficient. It aims to create a strong, clear, and trustworthy real estate industry.

According to the Telangana RERA rules, any real estate project that is under construction or in the planning stage, with a land area of more than 500 square meters and more than six units, must follow these regulations. These rules apply to projects approved on or after January 1, 2017. Telangana RERA has set up a website called TS RERA to let buyers see the registered projects and their progress.

Why You Should Prefer RERA Approved Projects in Telangana

Registering your real estate project with the Telangana Real Estate Regulatory Authority (RERA) comes with many benefits for both developers and buyers. Here are some of them:

• Fair and Transparent Pricing: A standardized method for calculating carpet area ensures consistent pricing across builders. Buyers only pay for the usable space, eliminating hidden costs for common areas.

• Protection from Misrepresentation: If the final project significantly deviates from what was promised, buyers have the right to withdraw and get a full refund with interest and compensation.

• Timely Project Completion: Builders are financially penalized for delays in project completion, incentivizing them to deliver on schedule.

• Security of Funds: Up to 70% of your funds are held securely in an escrow account until specific construction milestones are met. This safeguards project completion and minimizes the impact of potential builder insolvency.

• Fair Payment Terms: Builders can only collect a limited amount upfront (maximum 10%) before the sale agreement. Both buyers and builders receive the same interest rate for any delayed payments.
 

How to Check whether the Project is RERA Approved in Telangana

In Telangana, it is important for buyers to check the status of RERA projects before making decisions. Here's how you can do it:

• Step 1: Go to the official Telangana RERA website.

• Step 2: Click on "Services" and select "Real Estate Project Registration" from the options.

• Step 3: You will be redirected to a page asking your login credentials. Log in using your credentials or register if you are a new user.

• Step 4: Then, click on "Search Project Details" and provide project information like its name, promoter's name, or registration number.

• Step 5: You will see the project details and its registration status displayed in a table.

How to Register a Complaint Under RERA in Telangana

RERA in Telangana offers a way for people buying homes to report any problems they have with builders or developers. Here's how you can file a complaint on the Telangana RERA website:

•    Step 1: Go to the Telangana RERA website and click on "Register Complaint" under “Services.”

•    Step 2: Log in on the next page using the complaint form. If you're new, register yourself first.

•    Step 3: Fill in the complaint form with accurate details about the issue you're facing.

•    Step 4: Submit the complaint along with any necessary documents and proof.

Once you have submitted it, the Telangana RERA authority will investigate your complaint and act based on the evidence you provided. You can keep track of your complaint's status through the website.

People Also Ask

Here are some of the frequently asked questions about RERA Telangana:

1. When did Telangana RERA come into effect?

On July 31, 2017, the Telangana Government announced the Telangana RERA rules according to RERA guidelines. These rules started working on August 4, 2017, when they were published in the Telangana Gazette. Their aim is to improve regulation in the Telangana real estate sector.

2. What are the benefits of registering a project with Telangana RERA?

Real estate developers who sign up their projects with Telangana RERA get various advantages such as:

• Transparency and responsibility in real estate dealings.
• Enhanced trust from buyers as they know regulations are being followed.
• Quicker approvals from authorities.
• Timely and efficient handling of any disagreements.
• Lower legal and financial risks for developers.

3. How long does a real estate agent's registration last? 

A real estate agent's registration remains valid for five years from the date they register with the authority.

4. Are there penalties for non-compliance with Telangana RERA regulations?

TS-RERA has the authority to punish developers for different violations, such as:

•  Not registering their projects
• Giving false or incomplete details
• Breaking terms of sale agreements
• Unreasonably delaying project completion

5. Who is covered by RERA protection? 

RERA protects promoters, buyers, and real estate agents from any type of breach.