TS-RERA registration of real estate project is mandatory: Chairman

TS-RERA Chairman N. Satyanarayana urges builders/real estate firms to get registration from body to protect consumer interests. He participated in awareness campaign organised by AASRA. TS-RERA members K. Srinivasa Rao & K. Lakshminarayana explain RERA Act's salient features. CREDAI president P. Ramakrishna Rao & AASRA founder Hajid Sultan Ali also present. RERA Act introduced to regulate real estate industry, which has major impact on country's economy.

Telangana State Real Estate Regulatory Authority (TS-RERA) Chairman N. Satyanarayana has once again called upon the builders and real estate firms not to rush ahead with advertisements about their respective ventures without getting registration from the body.

Participating in an awareness campaign organised by the Advocates Association for Social Responsibility and Awareness (AASRA) in association with TS-RERA on Tuesday, he said the regulatory body will not only protect the interests of the consumers but will also remind the builders about their responsibilities as per the RERA Act.

Making a power point presentation about the salient features of the TS-RERA Act, the Chairman pointed out that a citizen spends about 77% of the income on buying a house, hence it is imperative to adhere to certain norms in order to provide confidence to the buyer about a project.

Real estate industry was next only to agriculture in terms of impact on country’s economy in various ways and the government brought out the RERA Act to regulate the activity, said TS-RERA members K. Srinivasa Rao and K. Lakshminarayana. CREDAI president P. Ramakrishna Rao, AASRA founder Hajid Sultan Ali and others were present, said a press release.