Tamil Nadu Real Estate Regulatory Authority
The Real Estate (Regulation and Development) Act, 2016, aims to regulate and promote the real estate sector, ensuring fair transactions between buyers and promoters of residential and commercial projects. This Act establishes the Real Estate Regulatory Authority (RERA) at the state level to oversee the sector and adjudicate disputes.
Key Features of RERA:
• Mandatory Registration:
All real estate projects and agents must register with RERA. No sales can occur without this registration.
• Scope:
Applies to projects exceeding 500 square meters or more than eight apartments.
• Promoter Obligations:
Promoters must upload project details on the RERA website, including registration, apartment types, and approvals.
• Interest Liability:
Both promoters and buyers must pay equal interest rates for any defaults.
• Registration of Agents:
Property dealers, brokers, and middlemen must register with TNRERA.
Non-registration is an offence, punishable by fines or imprisonment.
The Tamil Nadu Real Estate Regulatory Authority (TNRERA) office is located at:
1A, 1st Floor, Gandhi Irwin Bridge Road, Egmore, Chennai - 600008.
Office Hours: 10:00 AM to 5:45 PM on all working days.
For more information, visit https://rera.tn.gov.in/.
