Penalty of Rs 3,00,000 levied by TSRERA on ongoing builder projects
Dated on: Thursday 18th April 2019
As per the TSRERA rules, projects which are approved on or after 01-01-2017 by the competent authorities are to be registered with TSRERA. The deadline to register the projects without penalty was 31.08.2018. TSRERA has one more time extended the date for accepting the application for registration of ongoing projects to 30 april 2019 with a penalty of Rs 3,00,000. If the builder does not agree to pay the penalty his application shall be processed as per the provisions of Section 5(1)(b) of the Real Estate Regulation and Development act 2016.