[ecis2016.org] Telangana has notified the state’s rules under the Real Estate (Regulation and Development) Act, which will be applicable to all projects whose building permissions were approved on or after January 1, 2017
The Telangana government has notified its rules to the Real Estate (Regulation and Development) Act, 2016.
You are reading: Telangana notifies RERA rules
Read also : All about Uttar Pradesh Jansunwai-Samadhan and the anti-bhu mafia portal
According to a notification issued on July 31, 2017, the state government said these rules may be called the Telangana State Real Estate (Regulation and Development) Rules, 2017. They are applicable to all real estate projects, whose building permissions are approved on or after January 1, 2017, by the competent authorities such as municipal corporations, municipalities and nagar panchayats, among others, it said.
[ecis2016.org] What is RERA and how will it impact the real estate industry and home buyers?
Read also : Siddha Group to provide rooftop open air movie theatre, across its Skywalk projects in Kolkata
The Real Estate (Regulation and Development) Bill, 2016 was passed by the Parliament in March 2016 and all the 92 sections of the Act came into effect from May 1. Some of the major provisions of the Act, besides mandatory registration of projects and real estate agents, include depositing 70 per cent of the funds collected from buyers in a separate bank account, for construction of the project. This will ensure timely completion of the project, as the funds can be withdrawn only for construction purposes.
Source: https://ecis2016.org/.
Copyright belongs to: ecis2016.org
Source: https://ecis2016.org
Category: Lifestyle
