Introduction
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. This includes providing clear information on project details, pricing, and potential risks to interested buyers. Transparency builds trust and credibility. Ultimately benefiting both developers and consumers in the real estate market.
Table of Contents
- Must Be Registered With RERA
- RERA Registration Number is Required in Advertisements
- Mention the Project Approval
- Benefit of Registration in RERA
- Importance of RERA Compliance
Must Be Registered With RERA
Before any advertising or marketing processes can commence, the project must be duly registered with the Telangana State Real Estate Regulatory Authority (TS-RERA). This registration ensures that the project meets all legal requirements and protects consumers from any potential fraud or misconduct. Failure to register with TS-RERA can result in penalties and legal consequences for the developers.
Developers must ensure that all necessary documentation and approvals are in place before proceeding with promotional activities to avoid legal complications. They must also comply with TS-RERA regulations to maintain transparency and credibility in the real estate market.
The project must obtain necessary approvals from the concerned local bodies, such as the Greater Hyderabad Municipal Corporation (GHMC) or the Hyderabad Metropolitan Development Authority (HMDA). The government will take strict action if RERA, is not included or if required permissions are not obtained.
RERA Registration Number is Required in Advertisements
Attention, all advertisers! If you want to ensure your advertisements are compliant with regulations, make sure to prominently display your project’s RERA registration number and the TS-RERA website address in the top right corner of all visual mediums. Not only is this mandatory, but it also helps build trust with your audience by providing them with important information. Remember: make sure the size of this information is at least half the size used for the project name itself.
- Print Media (Newspapers, Magazines)
- Outdoor Hoardings (Billboards, Banners)
- Any other visual media (websites, social media)
Also read: Telangana RERA 21 Crores Fine to the Country for Violating the Rules
Mention the Project Approval
For advertisements broadcast on FM radio, television, or through electronic media and SMS, the regulations go a step further. Apart from the RERA registration number, these advertisements should also clearly mention the project approval details from the concerned authorities. This information is crucial for potential buyers to ensure that the project is legal and safe to invest in.
Failure to provide these details may lead to legal consequences for the developer and deter interested buyers. Potential buyers should always verify project approval details before making any investment decisions. It is important to take full care to protect oneself from any potential accidents or legal issues in the future.
- HMDA (Hyderabad Metropolitan Development Authority)
- GHMC (Greater Hyderabad Municipal Corporation)
- DTCP (Directorate of Town and Country Planning)
- Corporations
- Municipalities
- Village Panchayats
Benefit of Registration in RERA
This helps protect buyers from potential scams or illegal practices in the real estate market. Thorough research on the developer and the project will give peace of mind to those looking to make a substantial investment in a new home. In addition, potential home buyers can also look at reviews and testimonials from previous buyers to gauge the developer’s reputation.
It is important to get guidance from a real estate professional to navigate the complexities of buying a new property. A real estate professional can provide valuable insights and advice on the best methods for purchasing a new property. They can also help negotiate contracts and get all the legal aspects right.
Importance of RERA Compliance
Following the TS-RERA advertising guidelines not only protects consumers, but also demonstrates the developer’s commitment to transparency and ethical practices. By following these guidelines, developers can build trust with potential buyers and investors. At last, they can increase their reputation in the market. Additionally, adherence to TS-RERA guidelines can avoid future legal issues and disputes.
This saves developers time and money by avoiding costly litigation and penalties. It also ensures quick completion of projects which benefits both the developer and the buyers. Overall, following the advertising guidelines and TS-RERA regulations can lead to a more successful and reputable real estate development business. Developers should prioritize compliance to maintain a positive image and avoid future setbacks.
By staying informed and up to date on regulations, developers can build trust with buyers and investors. Ultimately leading to long-term success in the real estate industry. Maintaining transparency and accountability throughout the development process is critical to building a strong reputation and attracting future business opportunities.
Conclusion
Registration with Telangana State Real Estate Regulatory Authority has many benefits. For those purposes, any market you open requires registration first. Because of that, no one else has authority over any real estate business you have started. Remember that registration is important as there are many such benefits. For more information, visit openplot.