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RERA Act in Telangana: Overview, Rules and Registration Process
If you are a resident of Telangana and want to buy a home or are a real estate agent or promoter, knowing about RERA Act in Telangana is crucial for you. It is important that you know the rules, regulations, process and registration fees for a transparent and smooth home buying process. So read along to know more.
What Is RERA Act in Telangana?
The Real Estate (Regulation and Development) Act, 2016, was introduced by the Indian government to regulate and advance the nation's real estate market. To improve transparency and regulation of this state's real estate market, the Telangana State Real Estate (Regulation and Development) Rules 2017 were notified by the State government on July 31, 2017.
The purpose of this Act is:
- To provide an effective and transparent buying and selling process for real estate.
- To control and improve the sector's real estate industry.
- Creating an Appellate Tribunal aims to ensure that consumer interests are protected and grievances are resolved as quickly as feasible.
- Keep a public website that lists all real estate agents and projects registered with the regulating body.
What Are the Rules of RERA in Telangana?
Following are the rules under RERA in Telangana.
- Telangana's state government mandated that the bank account, which must be used for construction purposes, be credited with 70% of the total amount. This is accomplished in order to close any gaps in the under-construction properties.
- Every five years, real estate agents must renew their licence.
- If a real estate project is within the jurisdiction, promoters must register it with RERA Telangana to avoid penalties.
- If a project is to be finished in stages, promoters must register the project at each stage.
- To keep potential customers informed of the project's status, promoters must update the website of TSRERA once every three months.
- As noted in the other part, the promoters are responsible for paying the registration fee, which varies for various projects.
What Is the Registration Process of RERA in Telangana for a Project?
Steps to register a project on TSRERA are as follows-
Step 1: Visit the official website of Telangana RERA.
Step 2: Click on 'services' which one can find on the menu tab.
Step 3: Click on the 'real estate project registration' option from the drop-down menu. You will be redirected to the TSRERA login page.
Step 4: Log in to the TSRERA account by entering user credentials and CAPTCHA code.
Step 5: After logging in, click on the 'project details' and then click on the 'add project' option from the pop-up menu.
Step 6: Enter the details of your project.
Step 7: Pay the requisite registration fee through the payment gateway. This marks the completion of the registration process for a real estate project.
Documents Required for Registration of a Project Under the RERA Act in Telangana
List of documents necessary for the registration of a project under Telangana RERA are-
- Land title documentation that a witness has attested
- Complete property information, including a mortgage, title, etc.
- If the developer is not the property's legal owner, a letter of consent from that owner is required.
- Selling agreement and allotment letter proforma.
- Authenticated copy of developer's PAN card
- Information about all the important people involved in the project, such as the architects and constructors.
- The builder's most recent three years' worth of Income Tax Return (ITR) forms
- Information about the apartment, including the amount of carpet, the number of storeys, and the number of parking spaces
- Information on the project, such as its location, approved plan, plan layout, etc.
What Is the Registration Process of RERA Act in Telangana for a Project Agent?
Any project agent in Telangana has to follow these steps to register for RERA.
Step 1: Visit the “Login Page” of TSRERA.
Step 2: To access the TSRERA as a new user, click "New Registration."
Step 3: Choose "Real Estate Agent" user type and fill in the required information. Click on the "Create User" icon after entering the Captcha code.
Step 4: A confirmation email will be sent to the provided email address. Click on the provided activation link to finish the registration process.
Documents Required for Registration of a Project Agent Under the RERA Act in Telangana
List of documents that an agent needs to submit for RERA registration in Telangana is as follows-
- Contact details
- Address and ID proof of the agent
- Agent's passport-sized photo
- Project details along with details of the promoter
- The project’s approved layout
- Particulars related to the organisation
- In the case of a company, its PAN card, Certificate of Incorporation, and MSME certificate
What Is the Registration Process of RERA Act in Telangana for a Real Estate Promoter?
To register as a real estate promoter under this act, individuals need to follow these steps-
Step 1: Visit the official website of TSRERA.
Step 2: Click on the ‘services’ option and then click on registration.
Step 3: Click on the 'New Registration' option, you will be redirected to a new registration page.
Step 4: Select the ‘promoter’ option and fill in necessary details. You will receive a Captcha code which they have to enter and click on the icon which says ‘Create User’.
After completing all these steps, applicants will receive an activation link on their specified email during the filling process. On clicking the activation link, individuals will end the registration process.
What Are the Registration Charges of RERA in Telangana?
|Type of Project||Less than 1000 sq. metres||More than 1000 sq. metres||Maximum fees|
|Group housing||₹ 5||₹ 10||₹ 5 lacs|
|Commercial property||₹ 20||₹ 25||₹ 10 lacs|
|Mixed project||₹ 10||₹ 10||₹ 7 lacs|
|Plotted project||₹ 5||₹ 5||₹ 2 lacs|
How to Search Registered Projects Under RERA in Telangana Online?
In order to search for registered projects under RERA in Telangana, individuals need to follow these steps-
Step 1: Visit the TSRERA website.
Step 2: Click on the “Select Registered Projects and Agents” option.
Step 3: You will be redirected to a new window, where you will find a new form. You can search for the project either with the name of the promoter or the project or the Project's RERA registration number.
Step 4: Click on the “registered projects” option against the “select user type” to search for the projects.
Step 5: Click on the “view” option under the view details column if you want to search for the project using its name.
How to Search Registered Agents Under RERA in Telangana Online?
Individuals need to follow these steps to search for registered agents under RERA in Telangana.
Step 1: Visit the official website of TSRERA.
Step 2: Find and click on the ‘search registered projects and agents’ option.
Step 3: In the next window select user type as "registered agents".
Step 4: Enter the agent's name or registration number to search for the registered agents.
How to Raise a Complaint Under RERA in Telangana Online?
Individuals need to follow these steps to file a complaint under RERA in Telangana online.
Step 1: After registering with RERA by using the official website, log in to your account. After this, a pop-up will appear, which will ask whether you are an individual with a complaint or an end-user.
Step 2: Complainants will be redirected to a new page where you have to register a complaint and provide the necessary reasons and documents as evidence.
Individuals also have to pay a complaint fee of ₹ 1,000 through TSRERA.
What Are the Benefits of RERA in Telangana?
Homebuyers avail the following benefits with the introduction of RERA Act in Telangana.
Access to Detailed Information
Buyers will have access to detailed information in the public domain thanks to the requirement that projects, developers, promoters, and agents register with the regulatory bodies overseeing the real estate industry.
Increased Transparency of Operations
The market will become more organised as a result of the increased demand for homes in developments by reputable developers and the elimination of dishonest competitors.
Appropriate Payment for Project Delays
The Act will penalise builders harshly for purposely delaying projects since doing so jeopardises homebuyers' ability to maintain their financial security. It puts severe sanctions on developers who miss deadlines.
Buyers will have the right to know the status of water, sanitisation, and power, as well as the stage-by-stage time schedule for project construction. Additionally, the Act gives property owners the right to take control of completed common areas, including parks, clubs, internal roads, etc.
Refund Policy and Fair Pricing
The law requires developers to base their prices solely on carpet area. This will guarantee that customers only pay for the items they really buy, which is anticipated to lessen the total financial strain. RERA further stipulates that if a buyer wants to cancel the reservation, the developer must repay the money plus interest within 45 days. This clause protects the buyers from excessive refund processing delays.
Fast-tracking the Resolution of Complaints
Additionally, creating an appellate tribunal pursuant to RERA is also a relief for purchasers disturbed by protracted legal proceedings and ineffective grievance resolution. Homebuyers' faith in the legal system will be restored, and their interest in real estate investments will be rekindled, thanks to the requirement that all disputes be resolved within 60 days.
That is all for RERA Act in Telangana. RERA has altered the functionality of the Telangana real estate market, thanks to its regulation, benefits and rules. Without a doubt, it safeguards users and real estate agents to provide a positive home-buying experience.