RERA Karnataka Big Move- Sent legal notice to 780 projects

However, it has wreaked havoc on the credibility of developers of 780 Real Estate projects on Wednesday by putting one highlighted disclaimer in bold red on its website. Disclaimer stated, “Public is hereby informed that these projects are not registered with RERA and are under INVESTIGATION. The Public is warned that dealing with these projects is at their own risks these are not registered with RERA.” As a matter of fact, several projects, out of 780, from that list are already delivered or completed but they have not categorized properly by the builders on their websites in “completed or delivered” list. All developers whose names are mentioned in this list will be getting a hard copy of the notice on their postal addresses and they have to provide occupancy certificate or reason for non-submission of application to RERA Karnataka through email on “[email protected]” within 7 days from receiving this notice.  If builders fail to comply with the notice, they have to pay penalty as per section 3 point 59 (1) of the Real Estate (Regulation and Development) Act, 2016 i.e. up to 10% of the project cost of the real estate project as determined by the authority.

In order to extract more information about unregistered projects RERA Karnataka also introduced a tab named as “Report unregistered project” by clicking on that consumers can intimate authority about builders who are not registered with the RERA authority. This move will surely provide some relief to the consumers who were suffering from unscrupulous developers and retain their confidence towards RERA Karnataka Authority.  

Surely all these moves will accelerate the process of registration in the state and many builders who were trying to escape from the act will be on the radar of RERA. However, RERA Karnataka authority should act more responsibly so the integrity of some genuine builders can’t leave in tatter.