TS Govt to conduct meetings with realtors on RERA

Hyderabad : Chairman TSRERA and Special Chief Secretary Revenue Rajeshwar Tiwari said that meeting with promoters of real estate projects will be held next week to create awareness among the builders about the Real Estate Regulation Act (RERA). Similar meeting will also be held with the buyers as well.

With the RERA rules coming into force from the 1st of August, a meeting was held to firm up steps for its smooth launch. The RERA portal was explained through a power point presentation to the members.

Principal Secretary Municipal Administration Arvind Kumar said that software should be developed to have a link between the sanctioning authority and RERA. This would ensure that all the local bodies who accord building permissions are automatically uploaded on the RERA portal. All the real estate agents should get registered with RERA, he said. Similarly RERA rules will be applicable to all the real estate projects whose building permissions are approved by urban development authorities, municipal corporations, municipalities and other local bodies.

The main objective of RERA is to ensure accountability towards allottees and protect their interest, to infuse transparency, ensure fair play and reduce frauds and delays. It also aims to provide information to the promoter and the allottee and impose certain responsibilities on both of them. A regulatory mechanism to enforce contracts and to establish fast track dispute resolution mechanism is also required. This would promote good governance in the sector, Kumar said.

HMDA commissioner Chiranjeevulu and other officials attended the meeting.

HGCL Board meeting

The 54th board meeting of the Hyderabad Growth Corridor Limited held under the chairmanship of the Principal Secretary Municipal Administration Arvind Kumar discussed status of ORR and radial road works, illumination of outer ring road and other issues.

Kumar suggested improvement of signages on the ORR.