A Guide to RERA Karnataka

A Guide to RERA Karnataka
  • General
  • Saturday 17th February 2018
  • Author: Riya Kapoor

Highlights

  • RERA Act, 2016 is appraised as one of the prominent legislation passed by the Government of India.

  • Till now, around 2800 projects are registered with RERA Karnataka, out of which only 1259 projects have approved by the authority.

  • The government of Karnataka notified the Karnataka Real Estate Regulation and Development Rules, 2017 on 10 July 2017 and launched the website on 24 July 2017

  • RERA Karnataka has started a new module known as “Helpdesk”.Helpdesk aims to provide end users a simple way to get their questions answered.

The Real Estate Regulation and Development (RERA) Act, 2016 is appraised as one of the prominent legislation passed by the Government of India. Its intention is to reform and refine the real estate sector, encouraging more transparency, citizen centricity, accountability and financial discipline. This is in consonance with the vast and booming economy of India as in coming years many people would be investing in the real estate sector.

The government of Karnataka notified the Karnataka Real Estate Regulation and Development Rules, 2017 on 10 July 2017 and launched the website on 24 July 2017. Shri Kapil Mohan is designated as Chairman of Interim Real Estate Regulatory Authority of Karnataka.

Project Registration Fees in Karnataka

Group Housing Project

Rs 5 per square meter - If the area of land proposed to be developed do not exceed 1000 square meters.

Rs 10 per square meter - (capped up to Rs. 5 lakhs) - For projects where the area of land proposed to be developed exceeds 1000 square meters.

In case of mixed development (residential and commercial) project

Rs 10 per square meter - For projects where the area of land proposed to be developed do not exceed 1000 meters.

Rs 15 per square meter (capped up to Rs. 7 lakhs) - For projects where the area of land proposed to be developed exceeds 1000 square meters

In case of commercial projects

Rs 20 per square meter - For projects where the area of land proposed to be developed does not exceed 1000 square meters

Rs 25 per square meter (capped up to Rs. 10 lakhs) - For projects where the area of land proposed to be developed exceeds one thousand square meters.

In case of plotted development projects

Rs 5 per square meter of total plot area with maximum fees of Rs 500,000.

RERA for Real Estate Agents

Under this Act, the Real Estate Agent shall furnish the following information and documents for registration along with the required forms with the regulatory authority:

  1. Brief details of his enterprise including its name, registered address, type of enterprise, proprietorship, societies, co-operative society, partnership, companies etc.;
  2. Particulars of registration including the bye-laws, memorandum of association, articles of association etc. as the case may be;
  3. Name, address, contact details and photograph of the real estate agent if it is an individual and the photograph of the partners, directors etc. in case of other entities
  4. Self-attested copy of the PAN card;
  5. Self-attested copy of the address proof of the place of business.

The real estate agent shall pay fees of Rs 25,000 in case of individual registration and Rs 2,00,000 in case of other than individual registration.

What is there for buyers?

Any aggrieved person may file a complaint with the Regulatory Authority for any violation of the Act or the rules and regulations. Aggrieved Consumer would file the complaint with the Adjudicating Officer. He would have to provide a fee of INR 1,000 in form of DD. The consumers can file their complaint with the Regulatory Authority or Adjudicating Officer.

Contact Details of RERA Karnataka

Telephone : 080 - 22249798,22249799 
Fax: 22253718 
Email ID: 
info.rera@karnataka.gov.in

Office Address :

Real Estate Regulatory Authority Karnataka
Ground floor, Silver Jubli Block, 
Unity Building, CSI Compound 
3rd Cross, Misson Road 
Bengaluru, Karnataka 560027

RERA Karnataka has started a new module known as “Helpdesk”.Helpdesk aims to provide end users a simple way to get their questions answered. The purpose of this facility is providing a digital platform to track and record all queries, questions of the users (defined as: A registered promoter/agent, unregistered promoter/agent, buyer, complainant or any other user of the system portal etc.), and providing them a resolution.

Till now, around 2800 projects are registered with RERA Karnataka, out of which only 1259 projects have approved by the authority.

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