Housing Projects Are Failing To Register With RERA Act
Almost a thousand of housing projects in Karnataka are under the scanning process of Real Estate Regulatory Authority (RERA) for failing to register with regulation act and are ignoring the notices issued by the authority.
Taking this into consideration the home buyers of these residential projects may lose their right to approach the RERA authority and may face problem in future with the developer. Public are complaining against the media advertisements for the unregistered projects. RERA approves, projects in which the developer has registered with RERA.
RERA has put out the list of the projects on their website of Karnataka RERA in which the list includes the Bangalore Development Authority (BDA) too. RERA have been warning public against dealing with all these projects which are not registered with RERA or projects under the scrutiny of RERA. The authority warned public dealing with these project may face problem at their own risk .
Their are about 1075 developers which have replied towards the notices given by authority so far. RERA authority found only 700 projects which are satisfactory and legal. About 300 have been asked to submit the additional documents and 712 projects did not respond to the repetitive notices given by RERA. So far, 3,520 projects have been registered under Karnataka RERA and majority of them are from Bengaluru city. Awareness level is high in cities like Bengaluru, Mangaluru & Mysuru but needs to be created more awareness in smaller towns about the RERA Act.
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