CHENNAI: The Tamil Nadu Real Estate Regulatory Authority (TNRERA) has released a circular aimed at boosting transparency and consumer awareness. Effective May 7, the mandate requires all registered real estate project sites to install well-visible display boards. This rule is applicable to both building and layout projects statewide.
According to TNRERA member M. Krishnamoorthy, “The circular specifies that these boards must include crucial details such as the promoter’s name, the project’s name, TNRERA registration information, the completion date as per TNRERA, and the TNRERA website link.”
Reiterating the provisions of the Real Estate (Regulation and Development) Act, 2016 (RERA), TNRERA aims to enhance access to important project details for potential homebuyers and investors. Promoters are now mandated to set up a display board of at least 2ft by 4ft adjacent to the public road at every project site. This board must stand out from existing signage and present information in a clear font.
It is imperative for these display boards to be installed immediately after a project receives TNRERA registration. Promoters are required to provide proof of installation, which must be verified by the project’s engineer or architect and include site photographs,” a TNRERA official stated.
Furthermore, the requirement related to display board installation will be included in form-C of the registration process. Compliance will be closely monitored prior to the issuance of completion reports. S. Ramprabhu, chairman of the DTCP committee at the Builders Association of India, expressed that this measure is a significant move towards improving transparency and boosting buyer confidence.
