The real estate sector is booming in urban areas, with skyscrapers and luxurious apartments sprouting up like mushrooms, particularly in the suburbs of Hyderabad. As property prices soar, lower and middle-class families are increasingly investing in these suburban areas to fulfill their dream of owning a home. However, due to a lack of awareness, some buyers end up purchasing properties in unapproved projects and face significant losses. To combat this, real estate experts advise taking several precautions before buying a house, flat, or plot. One critical step is to understand the necessary construction permits. If everything is in order, the Real Estate Regulatory Authority (RERA) assigns a registration number to the project, which ensures its legitimacy. However, some companies deceitfully advertise RERA registration numbers before obtaining approval, so buyers must stay vigilant and verify the project’s RERA status.
How to Verify RERA Status Before Buying Property at rera.telangana.gov.in
Before purchasing a flat or plot, it is crucial to check the project’s status on the Telangana RERA website. This step can help prevent fraud and ensure that the project is legitimate.
- Visit the Telangana Real Estate website at https://rera.telangana.gov.in/Home/OrdersofAuthority.
- Select the “Real Estate Project Registration” option from the Services menu.
- Click on the “Search Project Details” option.
- Enter the project name, promoter name, or registration number and click on the search option. The site will display a list detailing the project’s registration status.
Filing a Complaint in RERA
Victims of rule violations by builders or developers in registered real estate projects can file complaints through the Telangana RERA website. Here are the steps to file a complaint:
- Visit the Telangana RERA website and click on “Register Complaint” under the Services menu.
- Log in using the complaint form on the subsequent page. If you are a new user, register first by opening https://rerait.telangana.gov.in/?MenuID=50.
- Complete the complaint form with accurate details about the issue you are facing.
- Submit the complaint along with necessary documents and evidence. The Telangana RERA Authority will review the complaint and take appropriate actions. You can track the complaint status online.
Key RERA Regulations
Understanding and complying with RERA regulations is essential for both buyers and developers to ensure smooth transactions and avoid legal issues. Here are some key RERA guidelines:
- Construction on land exceeding 8 flats or 500 square meters cannot begin without RERA approval.
- Sales should not be initiated before obtaining the necessary approvals.
- At the time of application, disclose experience in the field and capital required for construction to RERA.
- 70% of the money received from buyers must be deposited in a separate account, and proof of construction progress must be provided. Quarterly financial details should be submitted to RERA.
- An agreement should be signed if the builder takes more than 10% of the property value as an advance from the buyer. The possession date should be communicated in writing. If construction is not completed on time, the builder must pay the buyer interest recommended by RERA every month.
- If a builder wants to make any changes to the construction plan, they must obtain written consent from the buyers.
- Builders must provide quarterly reports and construction photos on the RERA website to keep buyers informed about the progress of the house/flat under construction.
- Builders are responsible for addressing construction or quality defects for up to five years as per the RERA Act. If a buyer reports defects, the builder must rectify them without any additional charges.
- Details of the construction must be registered with RERA before starting the project. Media advertisements, brochures, posters, or any other promotions related to the project are prohibited without RERA registration.
By adhering to these guidelines and taking the necessary precautions, buyers can safeguard their investments and developers can ensure compliance with legal standards, leading to a more transparent and trustworthy real estate market.
