The Real Estate Regulatory Authority (RERA) has taken decisive action against real estate firms engaged in the sale of open plots and flats without adhering to mandatory registrations. This move involved the issuance of notices to several companies by RERA authorities. N Satyanarayana, the Chairman of RERA, revealed that notices were served to entities such as Neemsboro Group, Excellence Properties, Prestige Group Projects, Urban Yards, Happy Dream Homes, Seven Hills, Kavuri Hills, Rivendell Farms, Sumadhura Infra Projects, and numerous others. The notices were primarily for promoting their projects and pre-launches without obtaining the requisite RERA registration.
An alarming trend was highlighted by Satyanarayana, who cited instances, including JB Infra Projects (JB Nature Valley), where plots were being sold without disclosing the RERA registration number in their promotional materials. This omission obstructed potential buyers from verifying property details on the official RERA website, thereby violating the stipulations outlined in the RERA Act. This lack of transparency and non-compliance with registration requirements significantly impeded the ability of prospective purchasers to make informed decisions.
Furthermore, RERA extended its scrutiny to encompass real estate agents involved in the unregistered sale of open plots on behalf of infrastructure companies. Notices were duly served to these agents, emphasizing the imperative need for compliance with registration norms. As per Satyanarayana, these companies and agents were given a strict timeline of 15 days to respond comprehensively to the notices. This timeframe was underscored as crucial to ensure a prompt and diligent resolution of the regulatory concerns raised by RERA against the non-compliant entities operating within the real estate sector.
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