TS RERA Chairman Dr. N Satyanarayana said that builders and promoters should submit quarterly reports and annual accounts audit reports related to the construction of projects that acquired RERA registrations. He was speaking at a meeting organized by Bengaluru-based lawyer Sohel Ahmed and chartered accountant Vinay on Friday. On this occasion, he said that all measures would be taken to warn about the violators. He suggested that the builders and promoters submit timely reports as per the interests and rights of the buyers.
* Trial Base Advocate Partner Sohail Ahmed and Chartered Accountant T. Vinay said that if the assurances given by the builders and promoters fail, they will be punished according to the RERA Act. He explained that there are more projects that have violated RERA in Uttar Pradesh, and blacklisting them is the key weapon. Gujarat is at the forefront, with 99 percent of the builders and promoters doing timely submission of quarterly reports, annual accounts, and audit reports of their projects, followed by Maharashtra with 75 percent, Tamil Nadu at 60 percent, and Karnataka at 60 percent.
* He cited the judgments of Karnataka, Tamil Nadu, and other high courts regarding the payment of damages. Along with the responsibilities of builders and promoters, the rights of buyers, refund of money paid, imposition of fines, redressal of complaints, formation of associations, issuance of occupancy certificates, etc. were made aware. In this programme, RERA members K. Srinivasa Rao, J. Lakshminarayana, Adjudicating Officer Syed Latif R Rahman, Legal Officer Chandrasekhar Reddy, Executive Director Sattaiah, RERA Administrative Officer Gangadhar, Joint Director Ashwini, Ravinder, Srinivas, Gopal, Anjaiah, members of the legal team, and others were present.
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