Karnataka government is sweating bullets about BJP biases towards RERA (Real Estate Regulatory and Development) Act.

As per central government recent press release, it is clarified that no developers shall be allowed to market their projects without getting registration under Real Estate Regulatory Authority (RERA).

Before the RERA, Real Estate Agents were not required to get their business registered and thus resulted into many manipulation and fraudulent activities

As per section 3 & 4 of ‘Real Estate (Regulation & Development) Act, 2016 read-with rule 4 of above Rules, for the real Estate projects that are ongoing and have not received completion certificate

As per section 9 of “Real Estate (Regulation & Development) Act, 2016 (REDA) read with Rule 11 of above mentioned Rules, Every real estate agent need to take prior registeration with RERA authority

As per section 3 and 4 of Real Estate (Regulation & Development) Act, 2016 (REDA) read-with Rule 3 of above rules, no promoter/developer can sell, advertise

As per RERA Act every state had to frame rules in respect of Real Estate Regulation Act till 1st of May 2017 but till now many states have not yet notified their rules.

The real Estate projects that are ongoing and have not received completion certificate or occupancy certificate, on the date of commencement of the Act, i.e. 01/05/2017, the respective promoter shall be required to get registered with RERA

every promoter shall get the eligible real estate project, registered with RERA authority before sale/promotion/advertisement/booking etc.

Every real estate agent needs to take prior registration with RERA authority of Maharashtra before dealing in any transactions relating to sale/purchase, advertising or brokerage of the property of a project registered under this Act.

Government of Maharashtra notified RERA rules and established Maharashtra Real Estate Regulatory Authority (Maha-RERA), vide Notification dated 8 March 2017, for regulation and promotion of real estate sector in the State of Maharashtra.

As per the information, The draft rules of the Haryana Real Estate Regulatory Authority (H-RERA) are set to come into effect from July 1. The town and country planning (TCP) department will soon submit a report on the draft rules to the government for them to be notified.

As per REDA, no promoter can sell/book/advertise or enter any agreement for sale any part of the project without prior registration with RERA authority.

The application for registration of such Real Estate Project shall be made in writing along with declaration, as prescribed in Rules, in triplicate.