A release on Thursday said, under Section 3(1) of the Real Estate (Regulation & Development) Act, 2016, for projects in progress as of May 1, 2017, for which completion certificates have not been issued, promoters should apply for registration with TNRERA on or before July 31, 2017. “Failure to do so, will invite penal action under the provisions of Section 59,” the release said.
However, developers are in a fix over the short deadline. A builder based in Coimbatore said the portal of the real estate authority does not have any facility to upload documents. “We have to download a form and email the scanned filled-in applications. Otherwise, one has to submit the applications in person to the TNRERA office in Chennai,” he said, adding the developers were facing issues over transferring large files through email. “As hardly any time is available to complete the process, we are facing these technical difficulties,” the builder, who preferred anonymity, said.
RERA, a central act, which aims at bringing transparency in the realty sector defining the rights and obligations of the buyers and developers came into effect across the country in May. The Tamil Nadu government, however, notified the rules for the ambitious act only on June 22. The official portal of TNRERA, where developers should register their ongoing projects, was launched a fortnight ago. As per the mandate, failing to register would mean that deveopers cannot advertise their projects.
Confederation of Real Estate Developers’ Associations of India (CREDAI), Chennai, vice-presidentS Sridharan said the delay of the state government in notifying the rules of the central act has resulted in a crisis. “Against this backdrop, the state government should allow registrations for at least 90 days from the date of notification in Tamil Nadu,” he said.
When contacted, official sources with the RERA said that extending the registration date would be against the order from the Centre. Only the state government has the power to take a decision with regard to extending the registration date, the official added.