VIJAYAWADA: A Siva Reddy, the leader of the Amaravati JAC, has been appointed as the chairman of the Andhra Pradesh Real Estate Regulatory Authority (AP-RERA). Previously serving as the president of the Confederation of Real Estate Developers’ Associations of India’s AP chapter, Reddy resigned from that position in 2020 to champion the capital city movement during the former YSRCP government.
He played a significant role in the farmers’ protests advocating for Amaravati to be established as the sole capital of the state. Additionally, the head of the Amaravati JAC’s women’s wing, Rayapati Sailaja, was appointed as the chairperson of the state women’s commission.
The government is expected to soon appoint additional members to RERA, which currently has only three directors from the previous YSRCP regime. The aim is to enhance RERA’s capacity, especially in light of the increasing real estate activity in the state.
“Our primary objectives are to ensure transparency and efficiency in the real estate market—especially regarding the sale of plots, apartments, and real estate projects. We also aim to protect consumer interests and establish a speedy dispute resolution mechanism,” stated Siva Reddy.
Reddy noted that any citizen can seek assistance from RERA for disputes with builders. “AP-RERA oversees the regulation of both residential and commercial real estate transactions. The RERA Act requires developers to disclose essential project information, including plans, layouts, government approvals, land title statuses, and schedules for completion to AP-RERA,” he added.
“We will ensure that this information is relayed to consumers. If a developer violates RERA’s appellate tribunal orders, the maximum penalty is three years imprisonment, with or without a fine. Moreover, any delay in project completion will require developers to compensate consumers at the same interest rate as their EMI payments to banks. Any modifications to the original plan must have the buyer’s written consent,” Reddy explained. He emphasized that every project exceeding 500 square meters or comprising more than eight apartments must be registered with RERA.
