TNRERA Urges Transparency in Real Estate Transactions to Strengthen Sector Growth

The Tamil Nadu Real Estate Regulatory Authority (TNRERA) has once again emphasized the importance of transparency in all real estate transactions, reinforcing its commitment to protecting buyers and ensuring accountability among developers. Speaking at an awareness programme in Coimbatore on Saturday, TNRERA Chairperson Shiv Das Meena urged both buyers and promoters to strictly adhere to regulatory requirements.

“No plot should be advertised, booked, or sold without proper registration under TNRERA,” Meena said, cautioning that violations could attract penalties of up to 10% of the project cost. He further stressed that transparent dealings would not only protect consumers but also support the sustained growth of Tamil Nadu’s real estate sector.

The awareness programme was organized to familiarize developers with the provisions of the Real Estate (Regulation and Development) Act, 2016. Around 150 builders and developers from Coimbatore and the western region participated in the event. Detailed handouts explaining registration requirements, compliance obligations, and the process for grievance redressal were distributed to reinforce adherence to the law.

TNRERA plays a pivotal role in registering and monitoring real estate projects and agents across the state. The authority ensures that promoters comply with all legal requirements before advertising or selling any project. It also addresses consumer complaints and works to maintain fairness and accountability within the sector.

To date, Tamil Nadu has registered 31,179 real estate projects under TNRERA, accounting for roughly 21% of all registered projects in India, second only to Maharashtra. This demonstrates the state’s active participation in implementing regulatory standards and fostering a transparent real estate market.

Members of TNRERA and Corporation Commissioner M. Sivaguru Prabakaran were also present at the programme, highlighting the government’s collaborative efforts to raise awareness and strengthen sector governance.

With initiatives like these, TNRERA aims to create a robust and transparent real estate ecosystem in Tamil Nadu, ensuring that both buyers and developers engage in fair, regulated, and legally compliant transactions.