A forever real estate agent understands that the concept of home is predicated on the many changes life can bring, and it doesn’t start—or end—with the transaction.
Role of Real Estate in RERA. Consequently, when you go shopping we see some young people handing out brochures at the parking lot. Likewise, even if you go to a supermarket, banks, ATMs, etc., in every crowded area, you will see some agents holding brochures of various real estate ventures and trying to sell plots. However, RERA has noticed that most of these agents are trying to sell things that are not approved by RERA. Further, if someone tries to tell you the details of the ventures ask him whether its a rera approved project or not.
Above all, some real estate companies in Telangana state are trying to cheat the buyers. Most importantly, in the name of prelaunch, agents are being sent door to door saying that the rate is low. Therefore, they are selling plots. So, some buyers believe that it is true and blindly believe that there will be no problems if they buy it. As a result, those who have been cheated, are currently making rounds around the RERA office. So, whoever brings a brochure saying that plots will be sold, don’t take the final decision. In conclusion, your investment is fully protected by buying only in RERA projects. Meanwhile, The Telangana RERA Authority has focused to take action against such realty agents and corporate sales companies.
What is RERA saying? and Role of Real Estate in RERA
Firstly, Agents registered with RERA should conduct sales only in projects or ventures registered with Telangana RERA. Secondly, Agents registered with RERA should not undertake sales in ventures not approved by RERA. To clarify, Telangana RERA Authority will take strict action against any agents in Hyderabad as well as different cities if they behave against the rules. For instance, don’t forget that there is also a fine. In addition, according to Section 9 (1) (2) of RERA Act Real Estate Agent or Company must sell only plots and flats in RERA approved project. Most importantly, selling real estate intermediaries must be registered as an Agent with RERA. On the other hand, if selling in a project not registered in RERA according to section 62, the agents will be fined at the rate of Rs.10,000 per day. In other words, it is levied at a maximum of five per cent of the plot or value of the flat.
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