The real estate sector in Hyderabad is booming with the rise of skyscrapers and luxurious apartments. The outskirts of the city are witnessing a rapid increase in new, stylish buildings. Due to the significant increase in real estate prices within the city, lower and middle-class individuals are investing in the suburban areas to fulfill their dream of owning a house. However, due to a lack of awareness, some buyers are suffering losses by purchasing projects without the necessary approvals.
To overcome this, real estate experts advise taking precautions before buying a house/flat or plot. It is crucial to understand the construction permissions. If everything is in order, the Real Estate Regulatory Authority (RERA) will assign a registration number to the project. Projects with this registration can be purchased without any doubts. However, some companies deceive by advertising RERA registration numbers in their brochures before obtaining approval. Buyers should be cautious of this and verify if the project has RERA approval.
Checking Project Status on RERA
Knowing the project status before purchasing a flat or plot is very important to avoid fraud. To check the status of a project:
- Visit the Telangana RERA website: https://rera.telangana.gov.in/
- Select the “Real Estate Project Registration” option under the Services section.
- Click on “Search Project Details”.
- Enter the project name, promoter name, or registration number and click on “Search”.
- A list with project details and registration status will appear.
Filing a Complaint on RERA
For violations of regulations in registered real estate projects, buyers can file complaints against builders and developers on the TG RERA website. Follow these steps to file a complaint:
- Visit the Telangana RERA website and click on “Register Complaint” under Services.
- Use the complaint form to log in. If you are a new user, register on the portal by opening this link: https://rerait.telangana.gov.in/?MenulD=50.
- Fill out the complaint form with accurate information about the issue.
- Submit the necessary documents and evidence along with the complaint.
- The Telangana RERA authority will review the complaint and take the necessary actions. The complaint status can be tracked on the website.
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RERA Regulations
- Construction on plots exceeding 500 sq.m. or 8 flats cannot start without RERA recognition, and no pre-sales should occur.
- The application must disclose experience in the field and details of the required capital for construction to RERA.
- 70% of the funds received from buyers should be deposited in a separate account and construction progress should be evidenced for fund release.
- Quarterly financial updates should be submitted to the RERA authority.
- If an advance exceeding 10% of the property value is taken, a formal agreement must be signed with the buyer, stating the handover date.
- In case of construction delays, the builder must pay the interest recommended by RERA to the buyer every month.
- Any changes in the construction plan must have written consent from the buyers.
- The progress of the house/flat under construction should be updated every three months with reports and construction photos on the RERA website.
- Builders are responsible for addressing construction/quality issues for up to 5 years as per the RERA Act. They must fix these issues without any additional charges.
- Details of any new construction must be registered with RERA before starting. Advertisements, pamphlets, posters, and other promotions related to the project should not be made without registration.
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