Do not buy properties from 40 projects: TNRERA

CHENNAI: The real estate watchdog, the Tamil Nadu Real Estate Regulatory Authority (TNRERA) has published a list of 40 projects in its website and warned the general public to not to buy properties from them. The warning has been issued following the replies from the promoters that the projects are meant for their own use and not for sale, the realty regulators notice said.

“TNRERA has issued notices to the promoters of the buildings, advising to apply for project registration as they fell within the ambit if RERA,” a TNRERA official said.

The owners/promoters of these buildings replied that their buildings are meant for own use and not for sale to the general public, a notice on the official portal stated. “Accordingly, those buildings have not been registered with the TNRERA. The public may take note that the promoters/developers of these projects are not authorised to sell any space in the project under Section 3 of Real Estate (Regulation and Development) Act, 2016,” the notice added.

The official said that the notices were issued based on the planning permission issued by the Chennai Metropolitan Development Authority (CMDA). Based on their reply, the list has been published online, the official added.

The list of 40 projects, including that of a famous jeweller, has been released on the TNRERA website. In Tamil Nadu, 280 projects have been registered with the regulatory authority in 2017 and 53 projects have been registered in 2018, as of now, official portal said.