The department of Municipal Administration & Urban Development, Government of Andhra Pradesh is the nodal department for the implementation of RERA Act in the state of Andhra Pradesh.
All sections of the Real Estate (Regulation & Development) Act, 2016 came into force with effect from 1st May, 2017. The Andhra Pradesh Real Estate (Regulation & Development) Rules, 2017 was approved by Government of Andhra Pradesh and notified on March 27, 2017.
The Salient Features of this Act are:
- It establishes the State Real Estate Regulatory Authority as the government body to be approached for redressal of grievances against any builder.
- This law vests authority on the real estate regulator to govern both residential and commercial real estate transactions.
- This law makes it mandatory for developers to post all information on issues such as project plan, layout, government approvals, land title status, sub-contractors to the project, schedule for completion with the AP Real Estate Regulatory Authority (APRERA) and then in effect pass this information on to the consumers.
- The maximum imprisonment term for a developer who violates the order of the appellate tribunal of the RERA is three years with or without a fine.
- Currently, if a project is delayed, then the developer does not suffer in any way. Now, the law ensures that any delay in project completion will make the developer liable to pay the same interest as the EMI being paid by the consumer to the bank back to the consumer
- The developer can not make any changes to the plan that had been sold without the written consent of the buyer.
- Every project measuring more than 500 square meters of site area or more than eight apartments will have to be registered with the RERA
Andhra Pradesh RERA headquarters at 1st Floor, PN Bus Station, RTC House, Vijayawada - 520013
Andhra Pradesh Real Estate Regulatory Authority (APRERA): Andhra Pradesh RERA Act
Below is the List of RERA Approved and Registered Real Estate Projects & Agents in Andhra Pradesh.
List of Andhra Pradesh RERA Registered Real Estate Projects - Click to View
List of Andhra Pradesh RERA Approved Real Estate Agents - Click to View