The Telangana Real Estate Regulatory Authority (TSRERA) has decided to give one more opportunity for registration of projects by levying a penalty of ₹3,00,000, provided registration is done on or before July 31, 2019.
Rajeshwar Tiwari, Chairman, TSRERA, has informed that it was decided to keep the process of registration of ongoing projects open for which permission has been taken between January 1, 2017 and August 31, 2018 from the competent authorities.
All applications received after May 31, 2019 for the registration of Project have violated provision of section 3 (1) of Real Estate (Regulation and Development) Act 2016. Therefore, on this ground their applications are liable for rejection under section 5 (1)(b) of the Act.
After the detailed discussion on June 29, and taking into consideration the facts and present position the authority has decided that it may not be appropriate to out-rightly reject the applications. Therefore, it decided to give one more opportunity by charging a penalty.
This is for ongoing projects for which permission has been taken between 01-01-2017 and 31-08-2018 from the competent authorities.
After the application has been made by the promoter, the Authority would communicate through a pop-up notice/e-mail, to the Promoters, who have uploaded their application between July 1-31, 2019 asking them to pay online penalty for late registration.
And if the Promoter does not agree to pay the penalty, his application shall be further processed as per the provisions of Section 5(1)(b) of the Real Estate (Regulation and Development) Act 2016.
This order shall come into force with immediate effect.
In accordance with Section 3(1) of the Real Estate (Regulation and Development) Act, 2016 it is mandatory on the part of the Promoter to make application for registration of ongoing projects within a period of three months from the date of commencement of Real Estate (Regulation and Development) Act, 2016.
As per the Telangana State Real Estate (Regulation and Development) Rules, 2017, the projects which are approved on or after 01-01-2017 by the competent authorities are to be registered with TS RERA.