The implementation of Real Estate Regulatory Act [RERA] has made the realtors understand their responsibility. Thus, more than 50 housing projects in Tamil Nadu state got themselves registered under this Act.
According to the latest news report, 52 residential projects have been registered under TNRERA [Tamil Nadu Real Estate Regulatory Act]. All these projects fall mainly in Chennai, Kancheepuram and Tiruvallur regions of Tamil Nadu state.
RERA – Real Estate Regulatory Act came into effect from 22nd June 2017 after the Tamil Nadu State Government notified RERA. According to the rule, all housing projects covering more than 500 Sq.ft. area and have more than eight residential units must get an approval from the Government under the RERA Act.