Hyderabad: Industries and Municipal Minister KT Rama Rao today inaugurated Real Estate Regulatory Authority (RERA) along with MPs Bandaru Dattatreya, Malla Reddy and officials at DTCP in Masab Tank here.
The minister planted a sapling on the premises. Functional from Sept 1, RERA will give online permissions to new structures and buildings under its purview by taking some fees. The related Act has been effective since 2016 and those structures and buildings built from Jan 2017 should get RERA permission with all details.
The purpose is to promote real estate and construction industry and to protect the interests of the consumers in a transparent manner with grievance redressal facility.
There are about 6000 structures and buildings under its purview since 2017 the officials said. RERA will give necessary permissions and the builders or agencies involved in the construction industry should obtain permission with funds and other details of the buildings and consumers. The consumers have to purchase or sell such buildings or structures coming under RERA purview.
Else officials concerned will take against illegal structures, projects and levy penalty. The government has taken steps to ensure that the buildings and structures are disposed in a fool-proof manner.