The Real Estate (Regulation and Development) Act, 2016 has been enacted by Government of India. Some sections of the Act were enforced from 1st May, 2016 and all the sections of the act came into force from 1st May, 2017. As per the act, all states must appoint a Real Estate Regulatory Authority to ensure that the purposes of the act are carried out.
Government of Telangana notified the Telangana State Real Estate (Regulation & Development) Rules 2017 vide G.O.Ms.No.202, Dt.31-07-2017 for regulation and promotion of real estate sector in the State of Telangana and vide G.O. Ms. No. 6, Dt.11-01-2018 and Special Chief Secretary to Government (Sri Rajeshwar Tiwari, IAS) Revenue Department has been designated as Regulatory Authority to manage the affairs under the Act till the regular Authority is established. Further vide G.O.Ms.No.8, Dt.11-01-2018 the Telangana State Value Added Tax Appellate Tribunal has been designated as RERA Appellate Tribunal to manage the affairs under the Act till the regular Tribunal is established.
The purpose of the act is:
- To establish regulation and promotion of Real Estate sector
- To ensure transparency & efficiency in selling Real Estate
- To protect the interest of consumers and establish an adjudicating mechanism for speedy dispute redressal in Real Estate sector
- To publish and maintain a website with records of registered real estate projects and agents for public viewing.
- To establish Appellate Tribunal to hear appeals from the decisions, directions or orders of the Real Estate Regulatory Authority
note : to know more details about TSRERA Click this link http://rera.telangana.gov.in