TNRERA is seeking help from public sector banks to ensure more registration

Dated on: Wednesday 10th January 2018

TNRERA has come up with a new strategy to make sure that developers will adhere to rules of RERA registration. In this matter, TNRERA will approach the concerned banks because it believes, “if banks insist on the TNRERA registration number before providing loans to prospective buyers, the builder would be left with little options expect to register his project with the authority.” This step will be taken in the aftermath of the disproportion between the number of housing projects registered with the realty regulator and the volume of planning permissions.

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