MUNICIPAL ADMINISTRATION AND URBAN …

1 1. GOVERNMENT OF TELANGANA. ABSTRACT. RULES - Telangana Real Estate (Regulation and development ) Rules, 2017- Notification Orders Issued. MUNICIPAL ADMINISTRATION AND URBAN development (M1) DEPARTMENT. , Dated: 31-07-2017. Read: - Real Estate (Regulation and development ), Act,2016. <<>> <<>>. ORDER: - The appended Notification will be published in Telangana Gazette Dated:04-08-2017. (BY ORDER AND IN THE NAME OF THE GOVERNOR OF TELANGANA). SUNIL SHARMA. PRINCIPAL SECRETARY TO GOVERNMENT (TR&B) &. SECRETARY TO GOVERNMENT (MA&UD) (i/c).

2 To The Commissioner and Director, Printing, Stationery and Stores Purchase Telangana Hyderabad (with a request to publish the same in the Extraordinary issue of Telangana Gazette dated: , and furnish 500 copies to Government). The Metropolitan Commissioner, Hyderabad Metropolitan development Authority, Hyderabad. The Commissioner, Greater Hyderabad MUNICIPAL Corporation, Hyderabad The Director of MUNICIPAL ADMINISTRATION , Telangana, Hyderabad. The Director of Town and Country Planning, Telangana, Hyderabad. The Commissioners of all MUNICIPAL Corporations/ Municipalities in the State, through DMA.

3 The Vice chairman of all URBAN development Authorities in the State The Commissioner and Inspector General of Registration and Stamps, Hyderabad. All Departments of Secretariat All Heads of Department. The Director General of Fire Services. The Chairperson, Telangana Transco. The Managing Director, , Hyderabad. The Engineer in Chief (Public Health) Hyderabad. The Commissioner & Inspector General of Registration & Stamps. The Managing Director, Telangana Housing Board. The District Collectors of all Districts. Copy to: The Principal Secretary to Chief Minister.

4 The OSD to Minister (MA & UD). The to Principal Secretary to Government (TR&B Dept). The to Secretary to Government (MA&UD Dept). //FORWARDED BY ORDER//. SECTION OFFICER. 2. NOTIFICATION. In exercise of the powers conferred by section 84 red with sub-clause (iv) of clause (g) of section 2 of the Real Estate (Regulation and development ) Act, 2016. (Central Act 16 of 2016 ), the Government of Telangana, hereby makes the following rules, namely: . CHAPTER - I. PRELIMINARY. 1. Short title, applicability and Commencement.

5 (1) These rules may be called the Telangana State Real Estate (Regulation and development ) Rules, 2017. (2) These Rules are applicable to all Real Estate Projects whose building permissions approved on or after by the Competent Authorities viz., UDAs / DTCP / MUNICIPAL Corporations / Municipalities / Nagar Panchayats / TSIIC. (3) They shall come into force from the date of their publication in the Telangana Gazette. 2. Definitions.. (1) In these rules, unless the context otherwise requires,- (a) Act means the Real Estate (Regulation and development ) Act, 2016.

6 (Central Act 16 of 2016);. (b) association of allottees means a collective of the allottees of a real estate project, by whatever name called, registered under any law for the time being in force, acting as a group to serve the cause of its members, and shall include the authorized representatives of the allottees;. (c) authenticated copy means a self-attested copy of any document;. (d) Form means a Form appended to these rules;. (e) appropriate government means the Government of Telangana;. (f) section means a section of the Read Estate (Regulations and development ) Act, 2016.

7 (g) Saleable Area includes Carpet Area plus veranda/balcony/terrace area which are exclusively meant for the Allottee plus the proportionate share of Common Areas and any other area as agreed between the Promoter and Allottee in the agreement of salefor which a proportionate cost has been collected from the Allottees;. (h) Parking area means a covered or open area which is sufficient in size to park vehicles and which may be provided in the basements and/or stilt and/or podium and/or in the form of independent structure built for providing parking spaces and/or parking provided by the mechanized parking arrangements.

8 (i) Land Cost and Cost of Construction : For the purposes of sub-clause (D). of clause (l) of sub-section (2) of section 4 of the Act and for thepurposes of registration of a real estate project as set out in Rules 3 and 4 of these Rules: (a) Land cost shall include: (i). The costs incurred by the Promoter for acquisition of ownership and title of the land parcels proposed for the real estate project, including its lease charges, Interest Costs, which shall also include overhead cost, marketing and/or brokerage costs, legal cost and supervision cost.

9 3. (ii). Any security deposits, payments payable to land owner(s) in connection with the Joint development agreement, (iii). Amount paid for acquisition of Transferable development Rights in accordance with applicable laws;. (iv). Consideration payable to the outgoing developer to relinquish ownership and title rights over the land parcel forming part of the real estate project;. (v). Amounts payable to State Government or Competent Authority or any other Statutory Authority of the State or Central Government, towards Stamp Duty, Transfer charges, Registration fees, land/zone change conversion charges, NALA charges, any taxes in relation to the land etc.

10 (b) Cost of construction shall include: (i). The cost of construction for the purpose of sub-clause (D) of clause (I) of sub-section (2) of section 4, shall include all such costs, incurred by the Promoter, towards the on-site and off-site expenditure for the development of the Real Estate project such as mobilization advances to contractors, procurement advances to vendors, construction equipment, site preparations and so on and onsite and offsite construction activities, payments/ instalments to local authority, and all other items of expenditure for the construction, marketing and sale of the project.