Telangana builders urge swift registration on TS RERA
Chairman emphasizes prudent approach; Real estate ind says, the Act mandating 30 day period leads to escalation in project cost and unauthorised marketing
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Builders and developers in the State of Telangana are pressing for instant registration of their projects on the Telangana State Real Estate Regulatory Authority (TS RERA) platform. The builders emphasize the urgency of swift registration, as having a RERA registration number is a prerequisite to commence marketing a project.
Responding to the builders’ plea, Dr N Satyanarayana, the Chairman of TS RERA, shared insights with Bizz Buzz, stating, “Registration is a fundamental aspect and my primary objective. While an ICT-based solution can streamline many processes, including viewing major details on the system, I am currently exploring this further. It’s not a complex task, and I am in the process of consulting key stakeholders to ensure a well-informed decision. However, it’s crucial to avoid hasty actions solely for the sake of being the first, as it may invite criticism.”
Dr N Satyanarayana was invited to an interactive session hosted by the Telangana Confederation of Indian Industry, in Hyderabad.
In counter to the Chairman’s take, Chairman of CII Telangana, C Shekar Reddy said, “My suggestion is getting Rera registration number after uploading the documents should be instant. While the Bill was in the draft stage itself we had recommended for this provision but it is already been a year now. With small modification in the platform being used currently, this can be achieved. When they can send a rejection letter why not approval letter?”
Reddy justified further that TS Rera can atleast provide with a provisional Rera registration number, which otherwise leads to escalation in project cost and unauthorised marketing of the project.
Satyanarayana is on the chair from July 1, 2023. On the same line, he further informed that regulation of real estate is important to establish home-buyer confidence which in-turn will boost the sector.
However, Reddy, citing the Preamble said, “We fought with the government during the draft of the bill, it is mentioned in the Preamble that ‘Regulation and Promotion’ of real estate, but where is the promotion, it is sidelined. We got these sections included. By Act there is provision under Section 32. Across the country no Rera is implementing it,” he said. The TS RERA Chairman also informed that the mobile application, a replica of the online TS RERA platform consisting features such as project and agent registration, tracking and complaint registration, among others, is ready to be launched in a month.
