Time schedule under Andhra Pradesh RERA

Time schedule under Andhra Pradesh RERA
  • General
  • Monday 6th January 2020
  • Author: Riya Kapoor

Highlights

  • The Real Estate (Regulation & Development) Act, 2016 is considered as one of the landmark legislations passed by the Government of India.

  • ts objective is to reform the real estate sector in India, encouraging greater transparency, citizen centricity, accountability, and financial discipline

The Real Estate (Regulation & Development) Act, 2016 is considered as one of the landmark legislations passed by the Government of India. Its objective is to reform the real estate sector in India, encouraging greater transparency, citizen centricity, accountability, and financial discipline. This is in line with the vast and growing economy of India as in future many people will be investing in real estate sector. All sections of the Real Estate (Regulation & Development) Act, 2016 came into force with effect from 1st May, 2017. The Andhra Pradesh Real Estate (Regulation & Development) Rules, 2017 was approved by the Government of Andhra Pradesh and notified on March 27, 2017.

 Time Schedule For Various Issues Under The Provisions Of The Real Estate(R & D) Act,2016 And AP Real Estate(R & D) Rules,2017:-

Task                       Time
Establishment of Regulatory Authority & Appellate Tribunal (from 1st May 2016)  01 year
The web-based online system shall be operationalized (from the date of establishment of regulatory authority). 01 year
The application shall be submitted by the promoters for ongoing projects, from the date of commencement i.e, 1st May 2017 3 Months 
To issue the registration certificate of a project from the date of submission 30 days
To issue the registration certificate of an agent from the date of submission 30 days
Redressal of complaint from the date of filing 30 days
Withdrawal of registration of project by Promoter 30 days
Redressal of grievance filed before the appellate tribunal 60 days
Handing over of possession to the allottee by the promoter 60 days
Timeline to revoke the Registration from the date of issue of notice Not less than 30 days

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