Are you thinking of buying a property? If your answer is yes, then this post is precisely for you. Just Imagine this for a moment, you are approaching a builder to apply for booking an apartment in your locality. Initially, 50% of the process has been completed.
Finally the builder has allotted a perfect flat which suits your living style, you have received the allotment letter and you paid a certain initial amount as down payment.
Oneday all of a sudden you come up with the news that TNRERA has published a list of 40 ongoing projects which are not meant for sale and those builders Hoodwinked many buyers by using forged documents and the sad part is that the builder from whom you booked your flat is also listed in it.
At this moment a lot of question will arise out of your mind like what is TNRERA and what is the connection between TNRERA and builders?
Why they declared those projects is not authorized to sell?
Is TNRERA an important thing to consider while buying a property?
It will really be a shocking news for you right and also for all the property buyers. I know how it will feel but don’t worry it’s just an imagination.
If you have no answers to the above questions then just keep reading.
Today I am going to explain about TNRERA
I am damn sure that at the end of reading this post you will gain a clear knowledge about TNRERA.
What is TNRERA?
TNRERA is also one of the authorities of RERA which belongs to Tamilnadu moreover it also acts as a regulatory for Andaman and Nicobar islands. It was on June 22, 2016, Housing and urban development of Tamil Nadu have approved the Tamilnadu real estate(Regulation and development) rules 2017.
These rules are applicable to all ongoing and future projects. At the present time, the TNRERA office is at Egmore in Chennai it was operating from Chennai metropolitan development authority with Thalamuthu Natarajan maligai as vice chairman till 2017.
Ultimately all the promoters and builders in Tamil Nadu should register their projects with TNRERA.
As a result of this act, more than 30 property developers in Tamilnadu had applied for RERA registration in the last year if you want to know further details check the recent news about TNRERA
Well, what I have written above is just scratching the surface. I will let you know more about the benefits of RERA on my upcoming post.
I would be glad to answer to your questions in the comments.