(REG News, Hyderabad):The Telangana RERA has taken a serious view of several realty firms selling flats during the pre-launch of the project. On the basis of information gleaned from social media accounts on pre-launch projects, the RERA teams have been conducting extensive search at the field level. The team has visited about 50 offices and lay-outs of the realty firms to gather full details of such objectionable practices.
On the basis of the information collected, the RERA has served notices on the realty firms. The RERA was shocked to know that the realty firms are selling flats with the help of agents authorized by the RERA. The field visit has revealed that some real estate firms have applied to the HMDA for permission and selling the flats at low prices pending securing necessary approvals and even wooing customers saying that the cost will increase upon receiving the full approval. Some others have offering flats at low price saying that the offer is applicable for only few days. Later, the cost escalates. The RERA feels that such offers are misleading and hence advised buyers against buying flats basing on the price factor.
The RERA served notice on the RJ Group, which is building a gated community project titled Bliss Heights at Yamnampet in Ghatkesar Mandal without its approval. It also learnt that the Jai Vasavi ORR Heights issued an advertisement for sale of flats without the RERA approval. The project is located on Kardanur Road in Patancheru Mandal. The firm was also selling the flats without the permission. So, it served a notice on it.
As per the rules coming into effect from January 1, 2017, any venture coming up on a site measuring 500 square yards and more building eight flats and more should register details with the Telangana RERA as per the its rules under Section 1 (2) If a promoter wants to release advertisements regarding any flat or flats should seek permission from the RERA as per Section 3 (1) of the RERA rules. To invite buyers to buy property in the project, adhering to the rules is essential.
But several firms have not been following the rules and selling flats without the RERA permission. That is why the RERA served notices on several firms. As per Section 59 of the RERA Act, the RERA asked the firms to explain why 10 per cent of the project cost should not be levied as fine on them. There is all round curiosity about over all fine levied by the RERA among the realty circles.
This website uses cookies.