Karnataka Real Estate Regulatory Authority (hereinafter referred to as K-RERA or authority) has given a deadline extension for the projects that were supposed to be completed in April or later to September 2021.
Under Section 11 of the Act all the projects in the state are required to compulsorily register under RERA and this number is to be shown in every “advertisement” by the promoter.
The Karnataka RERA authority has been unable to help the aggrieved homebuyers due to lack of support from deputy commissioners, so the authority forced to write to the Revenue Department that Deputy Commissioners are not honoring the judgments to help home-buyers.
As compared to RERA in other states Karnataka RERA has been disappointing since the day it got enacted. Builders and homebuyers both remained unhappy for many reasons.
Karnataka is the second state to implement RERA Act for real estate. RERA Authority has successfully registered 1,331 projects out of 1,982 applications in the state.
Karnataka government is sweating bullets about BJP biases towards RERA (Real Estate Regulatory and Development) Act.