Real estate projects not registered under Real Estate Regulatory Authority (RERA) yet may soon come under the lens of RERA Karnataka (RERA-K). With a new RERA Permanent Authority finally in place, RERA-K is now looking at getting more properties in the State within its ambit.
M.R. Kamble, chairman, RERA Karnataka, told The Hindu, that the authority had written to urban local bodies (ULBs) across the State, including Bruhat Bengaluru Mahanagara Palike (BBMP), Bangalore Development Authority (BDA) and taluk panchayats, seeking details of projects where plans have been approved.
“The first challenge for the permanent authority is to register all eligible projects under RERA. We are also collecting GST (Goods and Services Tax) data for this purpose. RERA Karnataka has already been creating a lot of awareness among developers to register. But some of them assume they will be binding themselves if they come under our ambit. RERA is here to develop a harmonious relationship between builders and home buyers,” he said.
At present, only 2,489 projects are RERA-K-approved. Another 3,028 have applied for registration, officials said.
“There are many developers voluntarily coming in to register as the buyer interest in RERA-approved projects is higher and they will have higher marketability. Once the ULBs respond, we will draw up a list and start bringing them under the ambit of RERA-K,” said Mr. Kamble, adding that they were also looking at bringing on board more real estate agents under RERA.
Appellate tribunal
Members of the Appellate Tribunal were also notified earlier this month. Mr. Kamble said the tribunal will start functioning soon, with talks on to temporarily set it up at the Karnataka Appellate Tribunal office in M.S. Building, before a permanent office is set up on the RERA-K premises.
The chairman also said home buyers’ grievances and complaints were being looked into. The Forum for People’s Collective Efforts had recently listed out some complaints and suggestions as a solution to effective implementation of the RERA Act in the State. Accusing that “accountability and transparency” were “missing” in the functioning of RERA-K, they sought a series of interventions, including establishing a ‘recovery wing’ under the Revenue Department to undertake recovery of RERA orders within 60 days.
Responding to complaints from home buyers ranging from non-payment of compensation amount ordered by RERA, to delay in handover of projects despite orders, Mr. Kamble said the authority would “follow the spirit of the law” in such cases.
