VIJAYAWADA: Amaravati JAC leader A Siva Reddy has been appointed as the chairman of Andhra Pradesh Real Estate Regulatory Authority (AP-RERA). Siva Reddy, who served as president of Confederation of Real Estate Developers’ Associations of India’s AP chapter in the past, quit his position in 2020 and dedicated himself to the capital city movement during the previous YSRCP regime.
He was one of the prominent personalities who led the farmers’ agitation seeking the declaration of Amaravati as the state’s single capital. Amaravati JAC women’s wing chief Rayapati Sailaja was earlier named as state women’s commission chairperson.
The govt is likely to appoint other members of RERA shortly as the statutory authority to clear real estate projects has just three directors, who were appointed during the previous YSRCP regime. The govt can appoint at least seven more members to the board besides the chairperson. The govt is keen to strengthen RERA, particularly in the wake of growing real estate activity in the state.
“Ensuring transparency and efficiency in the real estate sector with regard to sale of plots, apartments, buildings, and real estate projects, besides protecting the interests of consumers in the real estate sector and establishing an adjudicating mechanism for speedy dispute redressal are our top priorities,” said Siva Reddy.
He said any commoner can approach RERA for redressal of grievances against any builder. “AP-RERA has authority over the real estate sector as a regulator to govern both residential and commercial real estate transactions. The RERA Act makes it mandatory for developers to post all information on issues such as project plans, layouts, govt approvals, land title status, and sub-contractors to the project, and schedule for completion with AP-RERA.
“We will pass on this information to the consumers. The maximum imprisonment term for a developer who violates the orders of the appellate tribunal of RERA is three years with or without a fine. 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 cannot make any changes to the plan that was sold without the written consent of the buyer,” said Siva Reddy. He added that every project measuring more than 500 square metres of site area or more than eight apartments will have to be registered with RERA.
