In Telangana state, the behaviour of builders and realtors is changing as the RERA authority is acting strictly. TS RERA has imposed fines on many companies, and the details have been published in the press. The reputation of those companies has been damaged in the market at once. Developers who want to avoid such problems have gradually started complying with the provisions of RERA. It is reported that several developers have already told their teams to submit all the details to the RERA authority. It is reported that the change is because the builders fear that the RERA officials will attack them. In this sequence, many people are using technology extensively. However, with the arrival of the TS RERA chairman, the change in builders is a welcome change.
If the pre-launches are less…
Despite the arrival of the TS RERA Chairman, some promoters did not give up on the pre-launch activities. They are continuing this trend by starting new companies. For example, a company called Bhuvanteza managed a pre launch business during the COVID period and collected around Rs. 400 to Rs. 500 crore. Later, they went underground. However, this was done under the name of Pranavi Infratech and not Bhuvanteza. Also, the Telangana RERA Authority is responsible for banning such organisations that are conducting the pre-launch drive by changing their names.
