Telangana Builders Seek RERA Act Revision & Portal Update

02 Nov 2023 CW Team

One of the major concerns raised by the builders is regarding the ambiguity surrounding the registration process under RERA. They feel that the lack of clarity in the Act has led to delays and confusion in obtaining necessary approvals and permits. Builders argue that a revision is crucial to streamline the registration process and provide more clarity to avoid unnecessary issues in the future.

Another issue highlighted by the builders is the state portal's outdated features. While the portal was initially designed to facilitate easy registration and tracking of ongoing projects, it fails to address several important aspects adequately. Builders claim that the portal lacks a comprehensive complaint redressal mechanism and does not provide real-time updates on ongoing projects. They emphasize the need for an updated portal to ensure transparency and accountability in the real estate sector.

Furthermore, builders urge the government to incorporate a provision for the revision of penalties and fines imposed under RERA. They argue that the current penalty structure, which is based on a fixed percentage of the project cost, often results in disproportionately high penalties for minor violations. Builders propose a revision that considers the severity of the violation alongside the project cost to determine penalties more fairly.

The Telangana builders' association has recently submitted a memorandum to the state government, detailing these concerns and pressing for immediate action. They have requested the authorities to form a committee comprising representatives from the real estate industry, legal experts, and government officials to review and revise the RERA Act, addressing the issues raised.

The builders hope that the state government will take their concerns seriously and initiate necessary amendments to make the RERA Act more effective and builder-friendly. They believe that a transparent and accountable real estate sector will not only benefit the builders but also protect the interests of buyers and investors.

In conclusion, Telangana builders are seeking a revision in the RERA Act and an update to the state portal. Their concerns revolve around the ambiguity in the registration process, outdated features of the portal, and the need for a fair penalty structure. It remains to be seen how the government will respond to these demands and address the issues raised by the builders.

Telangana builders have raised concerns and sought a revision in the Real Estate (Regulation and Development) Act (RERA) and an update to the state portal. The builders argue that certain provisions within the Act have become obsolete, while the state portal lacks essential features required for effective implementation. One of the major concerns raised by the builders is regarding the ambiguity surrounding the registration process under RERA. They feel that the lack of clarity in the Act has led to delays and confusion in obtaining necessary approvals and permits. Builders argue that a revision is crucial to streamline the registration process and provide more clarity to avoid unnecessary issues in the future. Another issue highlighted by the builders is the state portal's outdated features. While the portal was initially designed to facilitate easy registration and tracking of ongoing projects, it fails to address several important aspects adequately. Builders claim that the portal lacks a comprehensive complaint redressal mechanism and does not provide real-time updates on ongoing projects. They emphasize the need for an updated portal to ensure transparency and accountability in the real estate sector. Furthermore, builders urge the government to incorporate a provision for the revision of penalties and fines imposed under RERA. They argue that the current penalty structure, which is based on a fixed percentage of the project cost, often results in disproportionately high penalties for minor violations. Builders propose a revision that considers the severity of the violation alongside the project cost to determine penalties more fairly. The Telangana builders' association has recently submitted a memorandum to the state government, detailing these concerns and pressing for immediate action. They have requested the authorities to form a committee comprising representatives from the real estate industry, legal experts, and government officials to review and revise the RERA Act, addressing the issues raised. The builders hope that the state government will take their concerns seriously and initiate necessary amendments to make the RERA Act more effective and builder-friendly. They believe that a transparent and accountable real estate sector will not only benefit the builders but also protect the interests of buyers and investors. In conclusion, Telangana builders are seeking a revision in the RERA Act and an update to the state portal. Their concerns revolve around the ambiguity in the registration process, outdated features of the portal, and the need for a fair penalty structure. It remains to be seen how the government will respond to these demands and address the issues raised by the builders.