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Real Estate Sector will be regulated with RERA’

Hyderabad, July 25 (PMI): Special Chief Secretary of Revenue Department and Chairperson of TSRERA Rajeshwar Tiwari today said with the establishment of RERA, the Real Estate Sector will be regulated and the consumer interest will be protected. The status of the projects registered can be viewed by both the project promoters and consumers. There will be transparency in the transactions. Plans/Documents uploaded by the promoters can be viewed by the consumers, he added.
Speaking at an awareness program conducted on Real Estate (Regulatory Development) Act, 2016 and Telangana State Real Estate (Regulatory Development) Rules, 2017, he requested the participants to give suggestions so as to incorporate in the web application which is developed for the purpose of registration of projects and the agents through online.
The awareness program was conducted for the real estate promoters and agents and they were enlightened about the act through a power point presentation. Tiwari informed them about the rules and regulations of RERA and the procedure to apply through online for the registration of the projects and agents. He stated that all the projects having an extent of above 500 Sq.mts and having more than 8 number of flats have to be registered with RERA. Director Town and Country Planning Vidhyadhar informed the members with regard to the penalties for non-registration and contravening the Rules.
He also told about the fee pattern for registration of the project. Speakers at the awareness programme requested to establish dispute redressal mechanism on par with MAHA RERA and suggested to change the nomenclature wherever required. A.V. Bhide, S. Devender Reddy, CCP, GHMC, S. Balakrishna, Director Planning, Sai Reddy Rami Reddy, President CREDAI, Hyderabad, Chalapathi Rao, NAREDCO and Ms. Dipika, Project Manager, MAHA Online spoke on the occasion. (PMI)

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