RERA Karnataka: A Comprehensive Guide

Introduction

In 2017 the Department of Housing under Karnataka government officially implemented Real Estate Regulatory Authority. Not only does this regulatory framework seek to raise levels of transparency and financial probity, its primary objective is to defend home-buyers' rights while at the same time making sure that developers and realtors are ethically responsible. RERA Karnataka has basically laid down its mission statement by now--its registration enforcement program for ongoing promoters and project-related real estate agents has done much to cut down on fraudster activities in the sector--yet we observe this result only tentatively: without all-out attack.

Functions and Responsibilities of RERA Karnataka

RERA Karnataka offers multiple functions and services to streamline the real estate industry and safeguard stakeholders' interests. Here are some of the key functions:

• Carpet Area-Based Pricing: Property sales must be based on the carpet area, excluding common areas such as staircases and elevators, ensuring buyers pay only for the usable space.
• Regular Project Updates: Developers are required to provide regular project updates on their official website for transparency.
• Five-Year Defect Liability: Developers must rectify any structural damages in RERA-approved projects within the first five years of possession, with repairs completed within 30 days of complaint submission.
• Advance Payment Limit: Developers can demand a maximum of 10% of the project cost as an advance payment before signing a registered sale agreement.
• Project Alterations Approval: Any modifications in project plans must be submitted and approved by RERA Karnataka.
• Real Estate Agent Database: A comprehensive list of registered real estate agents is maintained on the RERA Karnataka website for easy verification.
• Elimination of Irregularities: Violations of RERA regulations result in penalties—buyers and agents may face a one-year penalty, while developers could be penalized for up to three years.
• Easy Dispute Resolution: Homebuyers and developers can register and resolve complaints through the RERA Karnataka grievance redressal mechanism.

RERA Karnataka Fees and Charges

The registration fees for RERA-approved projects vary based on the type and size of the development. Below is a breakdown of applicable charges:

Group Housing Projects

• Land area up to 1,000 sq. meters: Rs. 5/sq. meter
• Land area exceeding 1,000 sq. meters: Rs. 10/sq. meter (Max Rs. 5 lakh)

Documents Required for RERA Karnataka Registration

The registration process mandates specific documentation based on the applicant category:

For Promoters the list includes the following

• Balance sheets and cash flow statements (last three years)
• Auditor reports and profit & loss statements
• PAN card and IT return acknowledgment
• Approved layout and existing layout plans
• Encumbrance certificate
• Form B declaration and sale deed pro forma
• Utilization certificate and project brochure

Similarly, For Individual Real Estate Agents

• PAN card and self-attested ID proof
• Agent's name, email ID, contact details
• Passport-sized photograph

Finally For Companies, Trusts, or Partnership Firms

• Business registration certificate
• PAN card and GST certificate
• Contact details and director/partner information

How to Register on the RERA Karnataka Portal

• Visit the official RERA Karnataka website.
• Click on Login, then select Public Login.
• Click on New User and fill in the mandatory fields.
• Complete the registration process and use your credentials to log in.

How to Register as a Real Estate Agent under RERA Karnataka

• Visit the RERA Karnataka website and navigate to Agent Registration.
• Select Agent Type (Individual or Entity) and provide your email ID.
• Enter personal and business details.
• Upload required documents (PAN, affidavit, address proof).
• Preview the application for accuracy.
• Make the registration fee payment via the Treasury Unified Gateway.
• Note the reference number for tracking purposes.
• Click on Redirect to complete the registration.

Project Registration under RERA Karnataka

• Visit the RERA Karnataka website and select Project Registration.
• Review the checklist before proceeding.
• Enter promoter details and project specifics.
• Upload PAN card and address proof.
• Select payment mode and complete the transaction.
• Await confirmation of registration.

Filing Complaints under RERA Karnataka

• Visit the RERA Karnataka complaint portal.
• Fill in personal and respondent details.
• Provide the complaint details and upload supporting documents.
• Pay a Rs. 1,000 fee and upload the challan as proof.
• Submit the complaint.

How to Check Project and Complaint Status

• Unregistered Projects: Visit the website, click on Unregistered Projects, and browse the list.
• Complaint Status: Go to Complaint Status, enter project details and complaint number.
• Project Extension Status: Visit Services > Project Extension Status to track applications.

RERA Karnataka Office Address & Contact Information

• Address: Real Estate Regulatory Authority, Karnataka, 2nd Floor, Silver Jubilee Block, Unity Building, CSI Compound, 3rd Cross, Mission Road, Bengaluru, Karnataka-560027.
• Contact Numbers: 080-22249798 / 22249799.
• Helpdesk Assistance: If visiting in person isn't feasible, queries can be addressed via the helpdesk.

Benefits of RERA Karnataka for Homebuyers

• Five-Year Developer Liability: Any structural defects within the first five years must be repaired by the developer.
• Project Tracking: Buyers can monitor construction progress via the RERA Karnataka website.
• Reduced Project Delays: Ensures accountability and timely delivery of housing projects.
• Quick Dispute Resolution: Conflicts between buyers and developers must be settled within 120 days.
• Fair Pricing: Buyers pay only for the carpet area, excluding non-livable spaces like staircases and elevators.

Final Thoughts

RERA Karnataka has revolutionized the real estate sector by ensuring transparency, accountability, and efficiency. By enforcing strict regulations, it protects homebuyers, encourages ethical business practices among developers, and provides a structured dispute resolution system. Whether you are a homebuyer, developer, or agent, compliance with RERA Karnataka regulations ensures stable and secure real estate investments.