By Accommodation Times Bureau
On Tuesday all builders and developers across the state who have obtained permission for real estate projects on or after January 1, 2017, were asked by the Telangana government to get their projects registered instantly.
According to an agency, the government notification stated that all the builders and developers who had taken permission for real estate projects on or after January 1, 2017, having about 500 sq mts plot area or more than eight units were requested to get their projects registered with Telangana State Real Estate Regulatory Authority immediately through online to avoid penalties.
The Real Estate (Regulation and Development) Act, 2016 has been enacted by the Government of India. Some sections of the Act were enforced from 1st May 2016 and all the sections of the act came into force from 1st May 2017. As per the act, all states must appoint a Real Estate Regulatory Authority to ensure that the purposes of the act are carried out.