TNRERA website publishes list of 40 ‘not for sale’ projects

CHENNAI: In a first, the Tamil Nadu Real Estate Regulatory Authority (TNRERA) has published a list of 40 ongoing projects at primary locations in the city, which the promoters cannot sell to homebuyers. The list uploaded on the portal of the regulating body comprises names of the promoters and the construction site locations.
According to official sources from the TNRERA, all these projects have obtained planning permission from the Chennai Metropolitan Development Authority (CMDA) in 2016.However, the realty regulator had issued notices to the promoters of the respective buildings directing them to apply for project registration as they fell within the ambit of RERA.
The owners/ promoters of these buildings replied that their buildings are meant for own use and not for sale to the general public, a notice on the TNRERA’s official portal said.
“Accordingly, these buildings have not been registered with the TNRERA. The public may take note that the promoters/ developers of these projects are not authorised to sell any space in the (concerned) project under Section 3 of Real Estate (Regulation and Development) Act, 2016,” the notice added. Section three of the real estate act deals with registration of projects.
The projects fell in several prime locations of Chennai including Anna Nagar, Saligramam, T Nagar, West Mambalam, Kilpauk and R A Puram. TNRERA sources said that the ongoing constructions also includes commercial space.
“The objective behind making the list public was to caution them that these ongoing constructions are not meant for sale. As the developers have declared that these buildings are not for sale, they cannot market it,” an official told TOI.
Official sources further said that any of the 40 projects found to be marketing for sale would face action by the TNRERA.
Nearly 330 ongoing housing projects in different parts of the state have registered with the TNRERA, which came into effect on June 22 last year.
Ongoing housing projects with a minimum of eight units and unsold new residential layouts, should be registered with the real estate regulatory authority, without which they cannot be marketed.
Developers’ bodies have welcomed the move. Confederation of Real Estate Developers’ Associations of India (CREDAI), Chennai chapter president Suresh Krishn said that it was a good move that the TNRERA has published the list on its portal based on the undertaking of the developers. “This will help customers differentiate between projects meant for sale and otherwise,” he added.
When contacted, Ramaprabhu, honorary secretary of the Builders’ Association of India’s Southern Centre, Chennai said that the move would help the buyers be cautious while choosing their dream homes, without being misguided by any builder.