HYDERABAD: The pandemic notwithstanding, Telangana’s property industry has emerged as among the most robust in India.
Data suggests that its capital, Hyderabad, saw over 53,000 new launches between March 2020 and September 2 – second only to the Mumbai Metropolitan Region – at a time when many markets are struggling to survive. Yet, the state’s Real Estate Regulatory Authority (TS-RERA) continues to be only partially effective.
A quick look at a RERA report compiled by Anarock Property Consultants shows that Telangana is the only major state where the authority has addressed zero consumer grievances till date – primary reason why it was constituted in 2017.
Nationally, the number of cases disposed of by RERAs has crossed the 78,000-mark
“This could only mean two things – no customer has ever filed a complaint against a builder in Telangana or that the authority has been ineffective,” said an industry representative, stressing the need to strengthen the regulatory body to protect brand-Hyderabad.
The only other states, apart from Telangana, that have limited RERA activity are: Tripura, Andaman and Nicobar Islands, Dadra and Nagar Haveli and Daman and Diu, and Puducherry.
While acknowledging that the absence of an active RERA has not impacted the demand for housing in Telangana – Hyderabad in specific – Ananrock Group chairman, Anuj Puri, said that RERA must undo “the damage of decades of opaque and unregulated activities in the sector”.
According to him, RERA in India is gaining ground and gradually and fulfilling the “primary purpose of rebuilding confidence in the real estate sector”.
