10% Penalty on UDS & Pre launches

Telangana Authority Chairman Somesh Kumar warned UDS and Pre Launch Promoters on Thursday. Rera will impose a 10 percent penalty on UDS and Pre-launch projects. He said it had come to their notice that some real estate promoters, builders and developers in Hyderabad and Telangana are selling flats under UDS Scheme. Advertisements are buzzing that they are selling at a discounted price. According to the Telangana RERA Act, if flat is sold under UDS without registering in RERA, a penalty of about ten percent of the project value will be levied on such promoters. RERA have made it clear buyers that plots and flats should not be purchased in UDS and Pre Launch projects.