Tuesday, December 5, 2023

RERA sends show cause notices to real estate units

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Telangana State Real Estate Regulatory Authority (RERA) Chairman N Satyanarayana has on Wednesday issued show cause notices to real estate companies and real estate agents who have violated RERA regulations and it has mentioned that they should submit an explanation within 15 days.
On the violation of advertising and marketing without registration, the Chairman has sent show cause notice to Neemsboro group, Excellence Properties, Prestige Group Projects, Sanali Group, Urban Yards, Happy Dream Homes, Viratha Developers, Rivendell Farms, Kavuri Hills, Seven hills, Buldox Real Estates and Sumadhura Infra Projects.
The Chairman said that even if the real estate projects have RERA registration, not displaying the RERA registration number in advertisements and other business activities is also punishable under the RERA Act. Show cause notices were issued for JB’s Nature Valley and JB Infra Projects for not showing RERA registration in their advertisement.
RERA is working to protect the rights of buyers as well as builders, promoters and agents to work with transparency and accountability. He said, “Without getting the registration as per the RERA Act, advertising, conducting business activities and freelancing, are considered as against the rules and strict action will be taken against them.”
“It is the responsibility of real estate agents to provide correct information to the buyers regarding the purchase of immovable property and ensure that they are not exposed to fraud. Agents who violate the rules will be liable to fine and punishment under the RERA Act,” he said.
Satyanarayana suggested that agents and companies should get the permission from RERA along with HMDA, DTCP, GHMC, UDA, Municipal and other local bodies. Buyers should check about the real estate companies on whether they have permission or not. After the confirmation only they should buy.

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