TNRERA lags behind seven states in registration of housing projects

TNRERA lags behind seven states in registration of housing projects
03/12/2018 , by , in News/Views

Tamil Nadu Real Estate Regulatory Authority (TNRERA) is lagging behind the real estate regulatory authorities in seven states, including Chhattisgarh, Rajasthan and Uttar Pradesh, when it comes to registration of housing projects.

A statement by ANAROCK Property Consultants on the analysis of performance by real estate regulatory authorities in the country till November said that TNRERA has recorded registration of 778 projects.

However, states such as Chhattisgarh, Rajasthan and Uttar Pradesh have witnessed registration of 859, 841 and 2,517 housing projects during the same period, respectively.

As per the statement, Maharashtra has reported 18,492 projects since its inception, which is followed by Gujarat with 4076, Karnataka and Madhya Pradesh 2133 and 2019 housing projects, respectively.

TNRERA ranks eighth among the real estate regulators in India, wherein seven regulatory authorities have more registrations than Tamil Nadu.

According to the statement, more than a year and half after the deployment of the Real Estate Regulatory Authority (RERA), it is evident that the Centre’s aim to have it enforced in each state to regulate the Indian real estate sector still falls way short of the intended mark.

When contacted, official sources with TNRERA said the registrations are based in permissions issued by the planning authorities.

According to an official, the Tamil Nadu Real Estate (Regulation and Development) Rules, 2017 underscores that all ongoing housing projects with a minimum of eight units must be registered with TNRERA.

Majority of planning permissions in the state are pertaining to less than eight units, which was main reason for lesser registration of projects when compared with other states, the official added.

About admin