All About Tamil Nadu Real Estate Regulatory Authority

All About Tamil Nadu Real Estate Regulatory Authority

All About Tamil Nadu Real Estate Regulatory Authority

The Tamil Nadu Real Estate Regulatory Authority (TNRERA) is a regulatory body under the Real Estate (Regulation and Development) Act, 2016 (RERA). It aims to regulate and promote transparency in the real estate sector in Tamil Nadu, ensuring protection for homebuyers and also promoting fair practices among developers and promoters. 

Establishment: TNRERA was established on June 22, 2017, following the enactment of the Real Estate (Regulation and Development) Act, 2016, by the Government of India. It is an independent regulatory body responsible for overseeing the real estate sector in Tamil Nadu.

Objectives: TNRERA aims to protect the interests of homebuyers by promoting transparency, accountability, and also efficiency in real estate transactions. It seeks to regulate real estate projects, ensure the timely completion of projects, and address grievances and disputes.

Information the Real Estate in Tamil Nadu:

Developers and promoters require to register their real estate projects with TNRERA before advertising, marketing, or selling any units. The registration process involves providing project details, such as land titles, project plans, approvals, timelines, and financial information.

TNRERA operates based on the provisions of the real estate sector in Tamil Nadu (Regulation and Development) Act, 2016, and the rules and regulations framed by the state government. It has the authority to enforce compliance with the Act’s provisions and take action against defaulting developers or promoters.

Consumer Protection: TNRERA aims to protect homebuyers’ interests by ensuring transparency in real estate projects transaction. It mandates developers to disclose project-related information, such as carpet area, amenities, construction timeline, and legal approvals, to buyers. Any changes or alterations to the project must be informed to the buyers and approved by TNRERA.

Grievance Redressal: TNRERA provides a platform for homebuyers to file complaints against developers or promoters for any violations or disputes. It has the power to adjudicate disputes, impose penalties, and issue orders to resolve grievances. It aims to expedite the resolution of complaints and ensure fair compensation for affected homebuyers.

Online Portal: TNRERA operates an online portal where developers, promoters, and also agents can register their projects, submit required documents, and homebuyers can file complaints. The portal provides easy access to information, facilitates online transactions, and ensures transparency in the registration process.  For more details, contact us.