RERA ACT

RERA Act is safeguarding the interest of the purchaser. It is essential to understand the Act first.

The RERA Act was brought into force to reform the country’s Real Estate segment, which then would encourage better transparency, making it more citizen-focused, improving financial discipline, and increasing accountability.

The act included 92 sections and was enforced in Karnataka. RERA Karnataka is the official portal for the Real Estate Regulatory Authority Karnataka and was designed under section 4.3 under Real Estate Regulatory Authority Act in 2016, which includes residential and commercial projects.

Some important points in the RERA Act as follows:

  1. The sale of the property needs to be based on the carpet area and not the super-built area.
  1. Builders need to keep 70% of the payment they received from the home buyers in a different account, kept aside for construction purposes only.
  1. Updates and project details need to be regularly uploaded on the websites by developers.
  1. The plans should mention the changes and alterations being made to the project, which have to be submitted to RERA (Karnataka Real Estate Regulatory Authority).
  1. If there are delays, the developers and buyers must pay an interest rate of 2% over SBI’s Marginal Cost of leading rate.
  1. Please note that any violation of the RERA Act Karnataka will result in 1-year imprisonment for agents and buyers and three years in jail for developers.
  1. If any damage happens to the property during the first five years, a solution needs to be met within 30 days.
  1. Developers can ask for only 10% of the project cost as an advanced payment before signing the registered sale contract.
  1. Buyers can point out any shortcomings in writing for one year after possession.

The Benefits for Homebuyers in Karnataka through RERA

How RERA can safeguard you from investment

  1. Home buyers can see the progress of construction on the website.
  1. Buyers are not charged for the super built-up area.
  1. Projects have a much lesser chance of being delayed since 70% of the payment will be used for construction development.
  1. The developer is responsible for any defects in the building for up to 5 years.
  1. If any conflict arises with the buyers, it needs to be solved within 120 days.
  1. If there are delays, the developers and buyers must pay an interest rate of 2% over the SBI’s Marginal Cost of leading rate.

 RERA Registration Process

  1. Information about the agency with its name, type of business, address, societies, partnerships.
  1. Information about the agency’s registration includes MOA, MUA, and other bye-laws
  1. If the agent is not from an agency and is just an individual, they will need to provide name, contact information, and address details.
  1. If it is an agency, details of the partners in the agency are needed.
  1. PAN Card copies with a signature.
  1. Copy of address of business with signature.

RERA Karnataka Registration Online Process to check Karnataka

  • Once you have logged on to the portal, choose the ‘register’ option from the dropdown menu.
  • The portal will give you five options: Project Registration/Complaint Registration/Apply for Extension/Change Request/Post Registration and Quarterly Update.
  • You’ll have to go through the checklist, make sure that you have all your documents ready.
  • The following page gives you the option to choose the promoter type: Individual or Societies or Company or Partnership Firm or Development Authority or Trust Agents.
  • The portal will ask you to enter your e-mail address.
  • Continue to register your project.

If you want to call up RERA Karnataka, you can use the contact number provided in their website. If you have already registered and are looking to check out the progress on your project or want to find out the RERA number, you can go through the following steps to check the progress

  1. Under the project list, choose the option that says processed applications.
  1. You will then view six options. Select “Applications Approved.”
  1. Mention the name of the project in the search bar. Once it shows up, download the file, and you will get all the updates.

Filing Complaints

If you’d like to file a complaint to RERA, you can follow these steps. Remember that the application fee is Rs. 1000 to file a complaint to RERA Karnataka. If you have to file an appeal at the Appellate Tribunal, the price is Rs. 5000. You will also need to fill out form “N” and pay Rs. 1000 in the form of a demand draft.

If you want to file a complaint online, you will have to follow these steps:

  1. Go to the RERA Complaint registration portal on the RERA Karnataka official website.
  1. Give in all your details on the official RERA Karnataka website.
  1. Give the details of the respondent.
  1. Put down that you want to upload documents that support your complaint.
  1. Pay Rs. 1000 and make sure to upload the challan.
  1. Submit your complaint on the RERA official website.

You will be sent an acknowledgement number. Make sure to keep it for future reference. You will need the following documents to file a complaint, an Allotment letter, cheque details, receipts received against payment, builder buyer agreement, and the building plans on the building layout.

Documents Required to Register in RERA Karnataka

Documents Checklist for Promoter:

To register a project online for promoters, the below set of documents are required:

  • Balance Sheet (for 3 years)
  • Audited Profit and Loss Statement (for 3 years)
  • Directors’ Report (for 3 years)
  • Cash Flow Statement (for 3 years)
  • Auditor Report
  • Income Tax Return Acknowledgement
  • PAN Card
  • Encumbrance Certificate
  • Commencement Certificate
  • Approved Building/Plotting Plan
  • Approved Layout Plan
  • Proforma of Agreement for Sale
  • Sale Deed and RTC
  • Approved Section of Building/Infrastructure Plan of Plotting
  • Area Development Plan of Project Area
  • Proforma of Allotment Letter
  • Brochure of Current Project
  • Proforma of Sale Deed
  • Project Specification
  • Collaboration Agreement/Development Agreement/

Joint Development Agreement Other Agreement

  • Declaration (Form B)
  • Khatha
  • Other Documents (Title/Rights/Interest/Name)
  • Approval/NOC under Section 109 of KLR Act 1961
  • Approval/NOC under Section 14 of KTCP Act
  • Fire Force Department NOC/Airport Authority of India NOC
  • BESCOM NOC/BWSSB NOC/KSPCB NOC/SEIAA NOC/BSNL NOC
  • Lift Authorities
  • Existing Layout Plan
  • Existing Section Plan and Specification
  • Change of Land Use
  • BMRCL NOC
  • Urban Land Ceiling NOC
  • Sectional Drawing of the Apartments
  • Bangalore Urban Arts Commission
  • Inspector of Factories Controller of Explosive Railways
  • District Magistrate
  • Coastal Regulation Zone Authority
  • Certificate from Registered Engineer indicating Structural Safety of the building
  • NOC in case of building proposals abutting to neighbouring properties
  • Advocate Search Report
  • Utilization Certificate
  • Transfer of Development Rights Certificate
  • Relinquishing Deed
  • Project Photo

Documents Checklist for Individual Real-estate Agents

For individual Real Estate agents, the following documents are to be provided:

  • Name of the agent (as per PAN records)
  • Contact details of the agent (mobile phone or telephone number)
  • Email ID of the agent
  • Self-attested ID proofs such as passport, voter ID card, Aadhaar card, driving licence, and/or bank passbook with photograph
  • PAN card (self-attested copy)
  • Passport sized photograph of the agent
  • Agent notarised affidavit on Rs.100 stamp paper

Documents Checklist for Company, Society, Partnership Firm, Trust, Development Authority, or Proprietorship Firm

For company, society, partnership firm, trust, development authority, or proprietorship firm, the following documents are to be provided:

  • Name of the applicant
  • Full address of the firm
  • Contact details (telephone number or mobile phone number of the firm)
  • Valid email ID of the agent
  • Self-attested ID proofs such as bank passbook with photograph or name of the company, registration certificate of the company, shops and establishment certificate, and/or GST certificate
  • PAN card (self-attested copy and with company seal)
  • Details of one of the directors or partners of the firm (including name, contact number, email ID, and photograph)

Documents Required to be Uploaded While Making the Payment

  • Attach Online Payment Receipt
  • Penalty Paid Receipt

For promoter types other than individuals, apart from the above set of documents, the company registration certificate is required to be uploaded.

How Does RERA Karnataka Benefit Homebuyers?

Homebuyers can glance at the website while considering the RERA check Karnataka to view the construction progress. There are no charges for the buyers for the super built-up area, so this doesn’t include lifts, staircases, and so on. Since 70% of the payment will be used for construction fees, projects have a much lesser chance of being delayed. If there are any defects in the building for up to 5 years, the developer is responsible. Any conflict with the buyers needs to be solved within 120 days. The developers and buyers must pay an interest rate of 2% over the SBI’s Marginal Cost of leading rate if there are delays. These are the key features of the RERA Act, and with a bit of Google search, you can help yourself check the RERA status in Karnataka.

RERA Karnataka: Project Registration Charges

Based on the type of project, here are the RERA Karnataka applicable charges:

PROJECT PARTICULARS APPLICATION FEES*

Group Housing Project

The area of proposed land for development is not more than 1,000 square meters

Projects in which area of proposed land for development is more than 1,000 square meters

Rs.5/square meter

Rs.10/square meter (maximum of Rs.5 lakh)

Mixed Development (commercial and residential) Project

 

The area of proposed land for development is not more than 1,000 square meters

Projects in which area of proposed land for development is more than 1,000 square meters

Rs.10/square meter

Rs.15/square meter (maximum)
Commercial Projects

The area of proposed land for development is not more than 1,000 square meters

Projects in which area of proposed land for development is more than 1,000 square meters

Rs.20/square meter

Rs.25/square meter (maximum of Rs.10 lakh)

*** For exact Application fee check the RERA Website

How to Register a Complaint on Karnataka RERA website

 Homebuyers and investors can file a complaint with Karnataka RERA online in three simple steps through RERA registration Karnataka:

Step 1: Visit rera.karnataka.gov.in and click on ‘’ Register Complaint’’. Login with your details. If you are a first-time user, you have to create an account through RERA Karnataka login.

Step 2: Once logged in, feed in information such as complainant details, respondent details and relief sought from the RERA. The user has to also mention details of complaints and supporting documents to make their case strong. To register the complaint, the user has to pay Rs 1,000 through the online payment and publish the acknowledgement slip here.

Step 3: The user will receive the acknowledgement number/complaint number shortly after submitting the complaint.  Save it to further check the RERA Karnataka Project status.

Plotted Development Projects

Rs.5/square meter of the total area of the plot. The maximum fee is Rs.5 lakh.

RERA Karnataka:

Office and Contact Details

Address: Silver Jubilee Block,

3rd Cross Rd,

Sampangi Rama Nagara,

Bangalore,  560002

Phone      080-22249798

The RERA Karnataka portal is well equipped with its provisions, making it easier for a user to find their abodes at their convenience, keeping in mind the RERA rules. If you’re looking for a home that is already RERA Karnataka approved, why not start your search on No Broker! You can find resale properties, ready-to-move properties, and even under construction properties here. You can even save money by getting deals DIRECTLY from the best builders in Karnataka! Click the link below to start your search.

FAQ’s

Q1.    What Is the RERA Act in Karnataka?

Ans.  This act was formed to reform the country’s real estate segment and encourage better transparency, making it more citizen-focused.  Rera Karnataka is the official portal for the Real Estate Regulatory Authority of Karnataka.

Q2.     What is the complete form of RERA Karnataka?

Ans.  The complete form of RERA is Real Estate Regulatory Authority Karnataka or   Karnataka Real Estate Regulatory Authority.

Q3.   What if the property is not residential? Can it still be registered in RERA office Bangalore?

Ans.   Under the RERA act, you can register both residential and commercial projects.

Q4.     What is the RERA Karnataka registration online process for agents?

Ans.   As per the RERA Karnataka rules, after paying the fees, every Real estate agent needs to provide the mandated information while completing the RERA Karnataka Registration. Plus, they need to provide information about the agency with its name, type of business, address, societies, partnerships, etc. MOA, MUA, and other by-laws are included in the agency’s registration. These details may also be checked on the RERA Karnataka Official Website, or at the RERA office Bangalore, which shall aid you with RERA registration for the state of Karnataka and RERA complaint Karnataka.

Q5.      What is the Karnataka RERA portal number?

Ans.   If you want to call up the RERA Karnataka, the contact number is 080–22249798, 22249799 as listed on the RERA website Karnataka.

Related Post

NEWS & TRENDSREAL ESTATE NEWS

Offences and Penalties under RERA Act 2016

The RERA Act 2016, provides for rules and regulations to regulate the real estate sector. There are provisions stated for the process of registration of the project and maintaining transparency with the Authorities and along with these provisions, the Act prescribes penalties for different kind of offences listed for promoters, real estate agents and allottees. There are various kinds of penalties specified depending upon the offence for non-compliance with the Act, such as it mentions imprisonment for term up to 3 years or fine which may extend up to 10% of the cost estimated of the real estate project or both. Although, every State RERA has been given the liberty to add any further clauses of compounding of offence in order to avoid imprisonment.

For Promoters

  • Section 59 of the RERA Act, states the offence of non-registration of project with a penalty of 10% of the estimated cost of the real estate project. Section 59 also mentions penalty for not obeying the orders or directions in connection to the above offence, which shall lead to imprisonment of 3 years with or without fine being the same 10% of the estimated cost of project.
  • Section 60 of the Act, compounds the offence of providing false information and other conventions with fine of 5% of the estimate cost of project.
  • Section 61 states the offence in contravention to any of the orders passed by RERA, penalty for each day of default against the order which might be added up to 5% of the estimated cost of project.
  • Section 64 of the Act states, contravention of the orders or direction of the Appellate Tribunal with imprisonment up to 3 years with or without fine summing up to 5% of the estimated amount of project.

For Real Estate Agents

  • Section 62 of the RERA Act mentions the offence of contravention to the applicable provisions of the Act, with penalty of Rs. 10,000 per day of default which might be extended up to 5% of the estimated cost of project.
  • Section 65 of the Act states contravention of the orders or directions of RERA, shall have penalty on daily basis decided by the Authority cumulative extending up to 5% of estimated cost of the property.
  • Section 66 of the Act states that contravention of the orders or direction of appellate tribunal will amount to imprisonment of up to 1 year with or without fine which may extend up to 10% of the estimated cost of project.

For Allottees

  • Section 67 of the Act mentions for contravention of any order of RERA by the allottees, then penalty for each day during the default continues which might cumulatively extend to 5% of the apartment or building cost
  • Section 68 of the Act mentions for contravention of orders or direction of appellate tribunal amounting to imprisonment for up to 1 year with or without fine for every day during the default persists which might add up to 5% of the estimated cost of apartments or project.

 No. 22, 4th ‘C’ Cross, Ind. Layout 5th Block, Koramangala,
Bangalore-560095, Karnataka, India.

 

 

    +91 99645 60000 

    080 – 2553 0200

 

   bangalore9180@gmail.com