C SHIVAKUMAR @ CHENNAI:
Now home buyers in Tamil Nadu will be provided with information on the number of ongoing projects which are registered with Tamil Nadu Real Estate Regulatory Authority and are delayed beyond the completion date.
This comes after the Union Ministry of Housing Affairs has urged the state government to include the details in the interest of home buyers and public at large in the portal of Tamil Nadu Real Estate Regulatory Authority.
Similarly, the Centre has also sought number of ongoing projects that are required to be registered as per the Real Estate (Regulation and Development) Act but are not registered with the authority to be notified through the web portal.
“These information need to be regularly updated on the web portal on a monthly basis,” a Union Housing Ministry source said.
Interestingly, the state TNRERA portal has been drawing flak from town planners. Association of Professional Town Planners K M Sadanandh said that TNRERA portal lacks information which are mandated by the TNRERA Rules.
As per the Tamil Nadu Real Estate Regulatory Authority, the developers who got Completion Certificate prior to May 1, 2017 are exempted from registering with TNRERA. However, those projects that have applied for Completion Certificate before June 22, 2017 and whose application have been rejected will have to be listed in TNRERA website. Interestingly, more than five months have passed but the list of projects that were denied Completion Certificate is not in the TNRERA website.
Sadanandh said that Real Estate Regulation Act was to ensure transparency in real estate sector but with such half-hearted measures, the very purpose of the Act and Rules has been diluted.
The withholding of information about the developer and his projects is allegedly blamed on former Chennai Metropolitan Development Authorities who are now part of Tamil Nadu Real Estate. “They could have selected the best professionals from banking sector, Indian Institute and Information Technology as well as reputed lawyers so that TNRERA could set an example for others to follow,” a former planner stated.
Factfile:
1. TNRERA portal has been asked to include information pertaining to projects registered but are delayed beyond completion date
2. The number of ongoing projects to be registered as per the act but are not registered with the Authority
3. Regularly update web portal on a monthly basis
Now home buyers in Tamil Nadu will be provided with information on the number of ongoing projects which are registered with Tamil Nadu Real Estate Regulatory Authority and are delayed beyond the completion date.
This comes after the Union Ministry of Housing Affairs has urged the state government to include the details in the interest of home buyers and public at large in the portal of Tamil Nadu Real Estate Regulatory Authority.
Similarly, the Centre has also sought number of ongoing projects that are required to be registered as per the Real Estate (Regulation and Development) Act but are not registered with the authority to be notified through the web portal.
“These information need to be regularly updated on the web portal on a monthly basis,” a Union Housing Ministry source said.
Interestingly, the state TNRERA portal has been drawing flak from town planners. Association of Professional Town Planners K M Sadanandh said that TNRERA portal lacks information which are mandated by the TNRERA Rules.
As per the Tamil Nadu Real Estate Regulatory Authority, the developers who got Completion Certificate prior to May 1, 2017 are exempted from registering with TNRERA. However, those projects that have applied for Completion Certificate before June 22, 2017 and whose application have been rejected will have to be listed in TNRERA website. Interestingly, more than five months have passed but the list of projects that were denied Completion Certificate is not in the TNRERA website.
Sadanandh said that Real Estate Regulation Act was to ensure transparency in real estate sector but with such half-hearted measures, the very purpose of the Act and Rules has been diluted.
The withholding of information about the developer and his projects is allegedly blamed on former Chennai Metropolitan Development Authorities who are now part of Tamil Nadu Real Estate. “They could have selected the best professionals from banking sector, Indian Institute and Information Technology as well as reputed lawyers so that TNRERA could set an example for others to follow,” a former planner stated.
Factfile:
1. TNRERA portal has been asked to include information pertaining to projects registered but are delayed beyond completion date
2. The number of ongoing projects to be registered as per the act but are not registered with the Authority
3. Regularly update web portal on a monthly basis
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