Under Section 11 of the Act all the projects in the state are required to compulsorily register under RERA and this number is to be shown in every “advertisement” by the promoter.
Under this forum, the aim is for the home buyers, builders or real estate agents to get their grievances amicably resolved before filing a complaint with the RERA authority.
Karnataka RERA has given a deadline extension of three months to all registered ongoing Real Estate Projects across the State.
The Karnataka RERA authority has been unable to help the aggrieved homebuyers due to lack of support from deputy commissioners, so the authority forced to write to the Revenue Department that Deputy Commissioners are not honoring the judgments to help home-buyers.
After Maharashtra and Uttar Pradesh, the state of Karnataka is all set to make its debut in establishing a conciliation forum apart from the existing real estate Authority.
As compared to RERA in other states Karnataka RERA has been disappointing since the day it got enacted. Builders and homebuyers both remained unhappy for many reasons.
The manner of recovery of interest, penalty and compensation and the same is to be carried out in the manner provided in Karnataka Land Revenue Act 1967 and the rules made there under.
States were directed to establish a regulatory authority, whose work was to overlook the registration process and ensure compliance of the policies of the state.
If the project isn’t RERA Registered you can approach the concerned RERA Authority for initiating a complaint against the concerned developer for non-registration.
The Karnataka state government is yet to come out with format to agreement for sale (AOs) as specified under section 84 of the act.
Karnataka RERA- The numbers of unregistered projects are not known, Karnataka has come up with a unique solution to solve the problem.
Karnataka had been the second State to implement the RERA Rules within its jurisdiction however the trailblazer has seemed to have lost its steam.
According to the act, all the on-going projects in States should register with State RERA Authority till 31st of July 2017. But this clause has just become an immaterial requirement for registration under RERA.
Karnataka Real Estate Regulatory Authority (hereinafter referred to as K-RERA or authority) has given a deadline extension for the projects that were supposed to be completed in April or later to September 2021.
A large number of aggrieved homebuyers took out a large procession against the dilution of RERA by the state government of Karnataka.
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