Introduction
The real estate sector in India has long been associated with corruption. This led to widespread mistrust among potential investors. To combat these issues and establish a more transparent system, the Government of India introduced the Real Estate (Regulation and Development) Act (TS RERA) in 2016. All the state governments, including Telangana, have gradually passed this Act. openplot gives you how RERA works in Telangana.
Table of Contents
- What is RERA in Telangana?
- What is the Purpose of the Telangana RERA?
- How to Login TS RERA?
- How to do Project Registration in TS RERA
- Registration of Agent in RERA Telangana
- Fees for Project Registration with TS RERA
- Documents Required for TS RERA Registration
- Documents Required by Agents for RERA Registration
- Rules and Regulations in Telangana RERA
What is RERA in Telangana?
Before RERA, the real estate sector was basically unregulated. Due to this, many people hesitate to invest in real estate. In 2016, the Real Estate (Regulation and Development) Act was introduced. It aims to frame standardized rules and regulations to enhance transparency in the real estate sector. The Real Estate Regulatory and Development Act came into force in Telangana on August 4, 2017, to legitimize the real estate sector.
The Act aims to bring transparency and accountability to the real estate market by establishing a regulatory authority to monitor transactions and ensure the timely completion of projects. Developers have to register their projects with the authority. It also mandates adherence to strict guidelines to protect the interests of home buyers.
What is the Purpose of the Telangana RERA?
The real estate sector has many uncontrollable expenses and difficulties in legal proceedings. A legal forum is essential for standardized transactions, transparency, and the redressal of grievances. The main objectives of the RERA Telangana Act are:
- Transparency and Efficiency: To bring transparency and efficiency between buyers and sellers in the real estate sector. Streamlines processes and provides accurate information to all parties involved. This can be achieved by using technology and data analytics. This leads to a more seamless and reliable real estate transaction experience for everyone involved.
- Regulation and Promotion: Proper regulation and promotion of real estate sector. This includes ensuring compliance with laws and regulations. Along with implementing effective marketing strategies to attract potential buyers and investors. Promoting transparency and accountability in the industry will help build trust and confidence among stakeholders.
- Consumer Protection: To protect the interests of consumers. Earlier, complaints were redressed in consumer courts, which was a lengthy process. However, with the introduction of online consumer complaint portals by Telangana RERA, the redressal process has become more accessible. This has helped ensure speedy and fair redressal of consumer complaints.
How to Login TS RERA?
RERA was newly introduced in Telangana Real Estate in 2016. It aims to regulate the real estate sector and protect the interests of homebuyers by ensuring transparency and accountability in property transactions. Below are the step-by-step steps to log in to TS RERA website:
- Visit the official Telangana Real Estate Regulatory Authority website and go to the login page.
- If you are a new user, select the “New Registration” button.
- Select whether you are registering as a promoter or a real estate agent and enter the required details.
- You will receive an email notification to complete your registration.
- Log in using your credentials.
How to do Project Registration in TS RERA
The process of registration of real estate projects in Telangana RERA involves submitting necessary documents and information to the regulatory authority for approval. Once approved, the project can be marketed. Sold to potential buyers in compliance with RERA regulations.
- Visit the official Telangana RERA website.
- Select ‘New‘ for new projects or ‘Existing‘ for old projects.
- Fill in the required details.
- Use a PAN card for property owner identification.
- Save and continue viewing your registered project on the RERA Telangana website.
Registration of Agent in RERA Telangana
Everyone who wants to work as an agent in Telangana Real Estate (Regulation and Development) should register with TS RERA. This registration process is very simple:
- Visit the official RERA Telangana website.
- Select ‘New’ for new projects or ‘Existing’ for old projects.
- Fill in the required details.
- Use a PAN card for property owner identification.
- Save and continue viewing your registered project on the RERA Telangana website
Fees for Project Registration with TS RERA
Fee details for project registration with the Telangana Real Estate Regulation Authority are given below.
| Project | Fees | Capped |
| Under 1000 sq. m, project | Rs. 5 per sq. m. | |
| 1000 sq. m, project | Rs. 10 per sq. m | Rs. 5 lakhs |
| For over 1000 sq. m, project | Rs. 15 per sq. m | Rs. 7 lakhs |
Documents Required for TS RERA Registration
Be ready to prepare the necessary documents for TS RERA registration in advance. Below is the list of documents required for your registration.
- Copy of Ownership Documents or Pattadar Passbook
- Property sketches and site plans
- Development Agreement Letter
- Encumbrance Certificate (EC)
- Structural Stability Certificate
- Approved Plans and NOCs
- Detailed project cost estimates
- Licenses or registration forms for professionals
- Agreement of Sale, Deed of Conveyance and Letter of Allotment
- Project brochure, Form B declaration and latest site photograph
Documents Required by Agents for RERA Registration
Documents required by Agents for RERA registration include proof of identity, proof of address, a PAN card, and an Aadhaar card. Agents may need to provide details of their real estate business operations and financial statements to complete the registration process.
Agent needs to ensure that all required documents are accurate and up to date to avoid any delays in the registration process. They should also be prepared to provide any other relevant documents requesting by the regulatory authority to demonstrate compliance with RERA guidelines. Failure to submit all necessary documentation may result in the rejection of the registration application.
Agents should be aware that there may be a fee involved in the registration process. Which varies by state. Completing the registration process efficiently and accurately. It is advisable to check with the real estate association for information if necessary.
Rules and Regulations in Telangana RERA
Telangana State Real Estate Rules 2017 RERA Telangana Rules. Developers have to deposit 70% of their investment in bank accounts for project development. Implementing this provision requires developers to use the funds for the designated project. The government seeks to protect home buyers from delays and fraud in real estate projects.
The registration fee varies depending on the project area and type. There are specific rates for residential, commercial, and mixed-use projects. All projects approved on or after January 1, 2017, must comply with these regulations. Projects approved prior to this date may be subject to different fee structures.
Conclusion
Since the Telangana State Real Estate Rules came into force in 2017, fraud in real estate has been reducing to a large extent. TS RERA rules have provided more transparency and accountability in the real estate sector. This gives buyers more confidence in their investments.
The strict regulations have also helped in curbing illegal activities and ensuring a fair market for all stakeholders involved. The rules have also streamlined the process of property transactions. Make it easier for buyers and sellers to navigate the market. The implementation of these rules has led to an increase in trust between consumers and real estate developers.
| Also read Telangana RERA: Benefits of Registering Real Estate Projects The Telangana State Real Estate Regulatory Authority (TS-RERA) has issued clear guidelines under Section 37 of the Real Estate (Regulation and Development) Act, 2016. Ensuring transparency is important in the announcement of real estate projects. RERA Project Status in Telangana: How to Check Checking the RERA project status in Telangana is an essential step for anyone looking to buy a property in the state. The RERA website provides a user-friendly platform to access all the information you need to make an informed decision. |
Frequently Asked Questions
Q. How do I check RERA registration in Telangana?
A. You can check the RERA registration number of the project from the respective state portals. If you want to find RERA registration number of a project in Telangana, know through this link – http://rera.telangana.gov.in/.
Q. Is RERA applicable in Telangana?
A. As per RERA Telangana rules and regulations, every real estate project should be registered with RERA Telangana if it is under its jurisdiction. Otherwise, it will incur fines. If the project is to be completed in stages, at each stage, the project should be registered by the promoter.
Q. What is the full form of RERA?
A. RERA (Real Estate Regulatory Authority) was introduced in 2016. The purpose of the RERA Act 2016 is to protect homebuyers and increase investments in the real estate industry.