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Property Related Laws Telangana Ministry of Housing and Urban Affairs Real Estate (Regulation and Development) Act, 2016

The Telangana Real Estate Regulatory Authority has issued a notice to all promoters to submit quarterly progress reports to TG RERA

20-May-2024 | No.629/TG RERA/2024

The Telangana Real Estate Regulatory Authority (TG RERA) has issued a notice to all promoters in accordance with the Real Estate (Regulation and Development) Act, 2016 and the Telangana Real Estate (Regulation and Development) Rules, 2017.

The notice emphasizes the following points:
1. As per section 11(1) (b) to (e) of the Act and Rule 14(1) (c) of the Rules, promoters are required to submit quarterly progress reports to TG RERA within 15 days from the end of each quarter.
2. Some promoters have failed to submit these reports within the stipulated period. Non-compliance with the provisions of the Act may result in penalties.
Penalty: As per section 61 of the RE (R&D) Act, 2016, promoters who contravene the provisions are liable to pay a penalty of up to 5% of the estimated cost of the project.
3. All promoters are hereby informed to submit their pending quarterly progress reports by the end of June 2024. Failure to do so will lead to penalties imposed by the Authority without further notice.

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