By Accommodation Times Bureau
The Tamil Nadu Real Estate Regulatory Authority (TNRERA) has sent notices to
320 builders who have failed to register their projects in the Chennai Metropolitan
Area (CMA) , with the TNRERA, even after the issuance of plan permission.
TNRERA trusted sources reveal the truth that the Chennai Metropolitan
Development Authority (CMDA) had approved construction of 400 and 385
buildings respectively in 2015 and 2016. Out of these, 320 were not registered as
per the Tamil Nadu Real Estate (Regulation and Development) Rules, 2017
notified on June 22.
The sources said that show cause notices were issued till August-end. "So far,
around 50% of the builders have responded. A majority have said the building is
being constructed for their own use and 12 have said they have not yet started their
projects," an official said. Of the 12, five have applied for revised plan permission,
Builders associations say there is still no clarity on finished products. "For
instance, a developer can complete a housing project without advertising it. As a
finished product, the builder can sell the apartments without the scrutiny of
RERA," said former Builders Association of India president Radhakrishnan.
When contacted, the official said, “Any sale of finished product without the stamp
of the realty regulator is a complete violation of the act.”