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20/08/2017 - GHMC seeks report from Lodha Grpup regarding inadequate parking / amenities at Lodha Bellezza and Meridian Apartments, Kukatpally
20/08/2017 - Nucon Aerospace opens aerospace, defence component facility in Hyderabad
20/08/2017 - Kalyani group and Israel's Rafael Advanced Defence Systems has opened an anti-tank guided missile (SPIKE) production facility in Adibatla
20/08/2017 - Hyderabad is a fast emerging as a defense equipment manufacturing hub
20/08/2017 - Hyderabad RERA Update. RERA set to take tiume, to start operations
07/08/2017 - Telangana notifies rules under RERA - Telangana State Real Estate (Regulation and Development) Rules, 2017
06/08/2017 - HMDA wants additional payment in the form of Non-Agriculture Land Assessment (NALA) tax for approving LRS
06/08/2017 - Osman Sagar and Himayat Sagar lakes to be De-Notified as Drinking Water Sources
06/08/2017 - GHMC/ HMDA/DTCP or Panchayat approval may be mandatory for registering properties
06/08/2017 - Tellapur News. Aliens signs Rs 580-cr pact for reviving project
06/08/2017 - Work to begin on the Hyderabad Regional Ring Road Soon
12/05/2017 - HMDA Land Auction near Hitech City and Gachibowli, Hyderabad
11/12/2016 - GO111 relaxation is under study says Telangana Government
11/12/2016 - Suspension bridge from Kavuri Hills to Inorbit Mall across Durgam Cheru Awarded to L&T
27/08/2016 - New Districts Formation in Telangana. Ranga Reddy cut to size! Chevalla loses out!
14/07/2016 - Hyderabad to have second Financial District - TSIIC hunts for land in Tellapur and Puppalaguda
18/06/2016 - Boeing flies into Adibatla Aerospace SEZ with Tata Group and sets up TATA Boeing Aerospace Limited
17/06/2016 - HMDA is ready with the preliminary feasibility study for the 290km Regional Ring Road in Hyderabad
12/06/2016 - Hyderabad Pharma City to be approved as a National Investment Manufacturing Zone
19/05/2016 - Apple's Offshore Development Center in Hyderabad Inaugurated
19/05/2016 - Alert! Land Registration Charge to be raised in Hyderabad and other hot locations
18/05/2016 - Apple set to inaugurate its First Offshore Development Center at Gachibowli in Hyderabad
06/05/2016 - Telangana to have 14 new Districts - Announcement expected on 2nd June
02/05/2016 - Tellapur Technocity Project - Developer asks Govt to let it develop 100 acres for which money was paid
14/04/2016 - Micromax Factory Starts Operations at Thukkuguda, Fabcity premises in Hyderabad
30/03/2016 - Amazon starts site development work at its Gachibowli Campus in Hyderabad
24/03/2016 - Wonderla Theme Park at Adibatla beside ORR, is expected to open in April
10/03/2016 - Key Points - The Real Estate (Regulation and Development) Bill
10/03/2016 - Cognizant to expand Facility in Gachibowli Hyderabad with 655 Crore investment
19/02/2016 - After Mumbai and Bengaluru, Hyderabad to get the third World Trade Center in India
16/02/2016 - Apple chooses Hyderabad for setting up its first Offshore Development Center
18/01/2016 - Retail Real Estate in Hyderabad booms, on the back of roaring food business! And Behungry will feed you while you save!
17/01/2016 - Booked Property with Mantri Group? Register it before any negative court order
10/01/2016 - Srisailam Highway posied to take off. A Business Standard Report
04/01/2016 - Last Date for BRS and LRS Extended till 31 Jan 2016
27/11/2015 - Uber to open its largest Technology Center outside of the US, at Hyderabad. Picks up 1.5Lakh sft space
26/11/2015 - Hyderabad Land Auction - Aurobindo Pharma buys land at the higest ever rate of Rs 29.28 crore per acre
10/11/2015 - Boeing Signs MOU with Tata Advanced Systems to make aerostructures for the AH-64 Apache choppers, in Adibatla
03/11/2015 - New LRS and BRS scheme is announced by the Telangana Govt. To apply before January 2, 2016
14/10/2015 - FIPB approves Helicopter Unit at Adibatla, Hyderabad by Indian Rotorcraft Ltd (JV of TATA and Augusta Westland)
03/10/2015 - Whre is Amaravathi Seed Capital Area?! Satellite Map and Pictures of Andhra Pradesh’s New Capital City
26/09/2015 - BRS & LRS is back! Building and Plot Regularization Scheme in Hyderabad to be announced soon!
29/08/2015 - NALA Tax burden to hit developers and buyers in Hyderabad. Highcourt dismisses writ petition filed by Developers against NALA Tax
27/08/2015 - Full List of 98 Smart Cities Announced by the Center on 27th August. Telangana has just 2 Smart Cities
30/07/2015 - Techwave Consulting to add 1000 IT employees in Hyderabad by 2016
24/07/2015 - Hyderabad to Get 20 new Multi Level Flyovers! City to Become Traffic Jam Free, in 2 Years
16/07/2015 - Boeing and Tata Advanced Systems sign pact for aerospace equipment manufacturing in Hyderabad
12/07/2015 - IKEA buyes 13 Acre land near Hitec City, Hyderabad for 250 Crore
06/07/2015 - Shifting of Secretariat & Assembly. The Govt. Targets Hitec City after Chest Hospital & Bison Ground were dropped!
06/07/2015 - Top 5 Locations in Hyderabad for Uber to build its $5Million Office Facility!

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Hyderabad News.Telangana notifies rules under RERA - Telangana State Real Estate (Regulation and Development) Rules, 2017


(Excl Ventures News.)The State government has notified comprehensive set of guidelines governing the real estate sector for effective implementation of the Central Act - Real Estate (Regulation and Development) Act, 2016.

The government has notified the Telangana State Real Estate (Regulation and Development) Rules, 2017 covering all aspects of the real estate sector right from defining the projects to the role that should be played by the real estate agents.

The rules will be applicable to all real estate projects whose building permissions are approved on or after January 1, 2017 by the urban development authorities, town and country planning departments, municipal corporations, municipalities and nagar panchayats in addition to the projects notified by the Telangana State Industrial Infrastructure Corporation.

The RERA will not apply to small projects (Upto 500sq meters or upto 6 apartments)

All builders have to register the projects with RERA before advertising, marketing or selling their projects.

Realtors predict that property rates will see a jump by 15 to 20 per cent, making it that much more difficult for those wanting to purchase homes.
The government announced the constitution of a Real Estate Regulatory Authority with chairman and members with a fixed tenure as also the Telangana State Real Estate Appellate Tribunal along with the notification of the new rules governing the sector. The fees for different categories of projects have also been fixed. It will be mandatory for the promoters to pay a registration fee for a sum calculated on the basis of whether the project is a group housing project, mixed development (residential and commercial), commercial project and plotted development project.

Accordingly, the fee would be Rs.5 per sq.m for projects whose land proposed to be developed was below 1,000 sq.m and Rs.10 per sq.m for projects whose development exceeds 1,000 sq.m, not exceeding Rs.5 lakh.

In case of mixed development projects, the fee would be Rs.10 per sq.m for projects below 1,000 sq.m and Rs.15 per sq.m for those above 1,000 sq.m, not exceeding Rs.7 lakh.

The fee in respect of the commercial projects would be Rs.20 a sq.m for below 1,000 sq.m and Rs.25 per sq.m for those exceeding the limit subject to a maximum of Rs.10 lakh. For the plotted development projects, the fee would be Rs.5 sq.m not exceeding Rs.2 lakh.

Accordingly, the promoter should make an application for registering the project with the concerned authority and deposit 70 per cent of the amounts realised from allotees which had not been used in the construction of the project or land cost of the project in a separate account.

The new rules mandate real estate agents to obtain registration by applying to the competent authority and the registration will be valid for five years. The registration could be reviewed by the real estate agents by applying afresh at least three months before the expiry of the existing registration.

"Now, no developer can sell a single unit before all permissions are obtained and the project is registered with the RERA authorities. This is certain to increase the builders'' overheads, which they are sure to pass onto their buyers. I predict a hike of 10-20% in properties rates in the future," said C Sekhar Reddy , former national president of the Confederation of Real Estate Developers Association of India (CREDAI)

Under the rules, people can register a complaint against them in case of delay or deviation in the project, by paying a fee of Rs 1,000. The case will be disposed of within 60 days

Prospective buyers can check the details of projects on the RERA website whether it is a registered one or not. Other details such as land records, encumbrance certificate for 10 years certified by a revenue official, sanctioned plan, plinth area, relevant permission copies and photographs of promoters too would be accessible for the buyer on the website.

Registered builders will also have to provide documents such as PAN as well as their firm''s annual reports including audited profit and loss and balance sheet for at least three preceding years. If any developer fails to register and is found to be selling or advertising their project, he will be penalized 10% of the estimated project cost. Apart from the penalty , repeat offenders and those who do not comply with RERA rules can face three-year imprisonment.
Comment :
Source: Hindu, TOI

Keyword Tags Hyderabad News,RERA Rules Telangana

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