Hyderabad: The state government will appoint an interim authority by the third week of this month to oversee the implementation of the Real Estate (Regulation and Development) Act (Rera), till a permanent regulator is set up.
The interim authority will be headed by the secretary of the municipal administration department.
The authority will act against errant builders only if home buyers lodge complaints as it lacks the mechanism to identify housing projects that are being taken up across the state.
The permanent regulator will be provided with the manpower and resources to conduct ground-level inspections on its own to check whether builders are complying with the Rera norms besides accepting complaints from home buyers both online and offline.
The setting up of a permanent authority is expected to take at least three months. As a first step, the government needs to set up a selection committee to select the chairperson and members.
The selection committee should send a panel of two names for each post in the authority within 60 days. The government will choose one name for each post within 30 days.
After this, builders and real estate agents have to register themselves and their projects with the authority online. A website will be created for the purpose.
To resolve disputes between builders and home buyers, the government will set up the Telangana Real Estate Appellate Tribunal.
The process of selection of the chairperson and members for the tribunal will be same as that for the regulator, and should be completed in three months.
In case of complaints against builders, home buyers should approach the
Tribunal by paying a fee of Rs 5,000 via a demand draft or a cheque. The tribunal should dispose of complaints within 60 days.
A source in the municipal administration department said, “Since these procedures will take at least two months to complete, the government will set up an interim regulator to provide immediate relief to home buyers and enable builders to register their new projects and start construction.”
The source added that the interim regulator cannot act on its own on errant builders but will only initiate action if specific complaints are lodged with it.
