April 2, 2024: The Telangana RERA has issued a statement citing that developers offering pre-launch offers are against the RERA rules. If found guilty, strict action will be taken against errant developers with a penalty that may be around 10% of the project cost.
Media reports mention that the Telangana RERA has till now sent notices to over 27 projects for marketing their projects without the RERA registration number. The regulatory body has collected around Rs 21 crore as fine.
Under the Telangana RERA, all projects in Telangana in addition to the regulatory body should have building permission approval from local bodies such as the Greater Hyderabad Municipal Corporation, Hyderabad Metropolitan Development Authority etc. Once the projects are RERA registered then only developers can advertise and market the projects.
How to advertise projects under Telangana RERA?
Under Section 37 of the Real Estate (Regulation and Development) Act 2016,
- Advertisement of real estate projects in the print media, on outdoor hoardings or any other visual medium shall mention the registration number issued by this Telangana RERA and website address of the authority in the top right corner of the advertisement.
- The size of the lettering and numbering used for this shall be not less than half of the size used for the name of the Project in the said advertisement.
- In advertisements on FM radio or through electronic media and SMS, the registration number issued by the Telangana RERA along with approval details of HMDA / GHMC / DTCP/ Corporations / Municipalities / Gram Panchayats shall be prominently mentioned.
The Telangana RERA has also issued warnings to home buyers to not invest in projects that are not RERA registered.
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