Real Estate

TS-RERA to simplify processes, enable digital payments to register projects

Our Bureau Hyderabad | Updated on October 31, 2019

Will ensure project details are shared by sanctioning and regulatory bodies

Telangana Real Estate Regulatory Authority (TS-RERA) plans to streamline processes and facilitate digital payments in registration of projects by builders and real estate developers.

While assuring a more simplified process of registration with RERA at a meeting hosted by the CII, Telangana Special Chief Secretary and TS-RERA Chairman Somesh Kumar said, “RERA is a good thing but there are several issues with its implementation. Other stakeholders including various departments too have a responsibility.”

Kumar said steps will be taken to bring about transparency and ensure details of project are shared between the sanctioning authority and the regulatory body to save time and duplication. The real estate industry has been the largest employment generator in the country and simplifying processes of doing businesses would streamline the processes.

C Shekar Reddy, Convenor-Infra & Real Estate panel, CII, said “Builders too have grievances such as delays in getting permissions for utilities and occupancy certificates. TS-RERA can play a more proactive role in resolving problems and prevent bodies like NCLT entering into the arena.”.

CII Excon 2019

At the CII meet, South Asia’s largest construction equipment trade fair CII-Excon 2019, to be held at the Bangalore International Exhibition Centre, during December 10-14, was also discussed.

The event, spread over 3,00,000 square metres, will see the participation of over 1,250 exhibitors including 350-plus overseas companies from 25 countries including China, Germany, Italy, South Korea, Turkey, UK and USA. The five-day exhibition will attract over 70,000 business visitors from India and abroad.

VG Sakthi Kumar, Member, Excon 2019 Steering Committee and Managing Director Schwing Stetter said, “This is the tenth edition of the EXCON and our theme this year is on “Smart i-tech- Next Gen India@75”. Excon 2019 will demonstrate the role of smart technologies and innovation in design in the manufacture of nextgen construction equipment and machinery to support the rapid pace of infrastructure development in the country.”

“India is expected to become the third largest construction market globally by 2022 and there has been rapid investments in infrastructure by the government which is driving growth opportunities,” he said.

Indian Construction Equipment Manufactures' Association is the Sector Partner for Excon 2019

Published on October 31, 2019

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