Table of Contents
- RERA Telangana
- Purpose of the RERA Telangana Act
- Telangana RERA Services
- Benefits of RERA for Homebuyers
- TS RERA Login
- Project Registration on RERA Telangana
- Agent Registration on RERA Telangana
- Fees for Project Registration with RERA Telangana
- Required Documents for RERA Registration
- Rules and Regulations by RERA Telangana
The real estate sector in India has long been associated with corruption and money laundering, leading to widespread mistrust among potential investors. To combat these issues and establish a more transparent system, the Government of India introduced the Real Estate (Regulation and Development) Act (RERA) in 2016. This act was gradually adopted by all state governments, including Telangana. Today, we explore how RERA functions in Telangana.
RERA Telangana
Before RERA, the real estate sector was mostly unregulated, causing many to hesitate before investing in real estate. The introduction of the Real Estate (Regulation and Development) Act in 2016 aimed to create standardized rules and regulations to enhance transparency in the sector. The RERA Telangana Act was enacted in May 2017 and includes 92 parts.
Purpose of the RERA Telangana Act
The real estate sector had numerous unregulated expenses and difficulties in legal proceedings, necessitating standardized transactions, transparency, and a legal forum for grievance redressal. The main objectives of the RERA Telangana Act are:
- Transparency and Efficiency: To bring transparency and efficiency between buyers and sellers in the real estate sector.
- Regulation and Promotion: To properly regulate and promote the real estate sector.
- Consumer Protection: To safeguard the interests of consumers. Previously, grievances were settled in consumer courts, which was a lengthy process. The Telangana RERA ensures quick redressal of buyer grievances through a specialized Appellate Tribunal.
- Official Record: To maintain an official website with detailed records of all real estate agents and projects registered with TS RERA.
Telangana RERA Services
For Citizens:
- Citizens can directly file complaints online with the Regulatory Authority for any breach of the TS RERA Act.
- Buyers can access records of registered projects on the RERA website and view all project details disclosed by real estate agents or promoters.
For Promoters:
- Promoters can file online complaints directly with RERA.
- They can easily register projects on the official RERA website.
- They can apply for project extensions.
- Promoters can update project progress every quarter.
For Real Estate Agents:
- Agents can register easily with the regulating authority.
- They can file complaints online.
- They can renew their registration with ease.
Benefits of RERA for Homebuyers
- Project Information: Buyers can access updated information on their projects from the builder’s website.
- Protected Investments: A specific portion of the buyer’s payment is credited to a separate bank account to be used exclusively for project development.
- Assured Returns: Only TS RERA-approved projects can market their projects, ensuring security for buyers.
- Compensation for Delays: Developers must pay a 2% interest rate above SBI’s marginal cost of lending rate to the buyer if there is any delay in project completion.
TS RERA Login
To log in to the TS RERA website:
- Visit the official Telangana RERA website and go to the login page.
- If you are a new user, select the “New Registration” button.
- Select whether you are registering as a promoter or real estate agent, and enter the required details.
- You will receive an email notification to complete your registration.
- Log in using your credentials.
Project Registration on RERA Telangana
The registration process is simple:
- Visit the official RERA Telangana website.
- Select ‘New’ for new projects or ‘Existing’ for old projects.
- Fill in the required details.
- Use a PAN card for property owner identification.
- Save and continue to view your registered project on the RERA Telangana website.
Agent Registration on RERA Telangana
To register as an agent:
- Visit the RERA Telangana official website.
- Select Registration and choose Project Registration.
- Enter your PAN card number and find details.
- Fill in your details and submit the required documents.
- Make the payment and submit your application.
Fees for Project Registration with RERA Telangana
- For projects under 1000 sq.m, the fee is Rs. 5/sq.m.
- For projects over 1000 sq.m, the fee is Rs. 10/sq.m, capped at Rs. 5 lakhs.
- For mixed-use projects, the fee is Rs. 10/sq.m for under 1000 sq.m and Rs. 15/sq.m for over 1000 sq.m, capped at Rs. 7 lakhs.
Required Documents for RERA Registration
For Promoters and Developers:
- Ownership documents or copy of Pattadar Passbook
- Property sketches and site plans
- Development agreement letter
- Encumbrance Certificate (EC)
- Structural Stability Certificate
- Approved plans and NOCs
- Detailed project cost estimates
- Licenses or enrollment forms for professionals
- Agreement of Sale, Conveyance Deed, and Allotment Letter
- Project brochure, Form B declaration, and latest site photo
For Agents:
- PAN Card copy
- Address proof
- Passport size photo
- License certification copy
- GST number
- Interim Order Certificate
- Last three years ITR
- Disposed Certificate
- Self-declared affidavit
Project Details for RERA Registration
- Project name, type, and description
- Project status and building plan number
- Validity of building permission
- Project start and proposed completion dates
- Cost of land and estimated construction cost
- Total land area, building height, plinth area, built-up area, and open area
- Garage and parking details
Telangana RERA Search
To search for registered projects:
- Visit the RERA Telangana website.
- Click on “Search Registered Projects and Agents.”
- Enter the project name, promoter’s name, or TS RERA registration number.
- View project details and land history by clicking on “View Certificate” or “View Application.”
Rules and Regulations by RERA Telangana
The Telangana State Real Estate Rules 2017 govern the regulations of RERA Telangana. Developers must deposit 70% of their investment into bank accounts for project development. Registration fees vary based on the project area and type, with specific rates for residential, commercial, and mixed-use projects. All projects approved on or after January 1, 2017, must comply with these rules.
RERA Telangana aims to transform the real estate sector by ensuring transparency, protecting consumer interests, and promoting fair practices.
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