RERA Karnataka - RERA Karnataka Project Details

What is RERA Act in Karnataka

The Real Estate Regulatory Authority (RERA) Act of 2016 aims to ensure transparency within the real estate sector. The main objective of this authorisation is to protect real estate transactions. RERA act applies to all states and territories within India, barring the State of Jammu and Kashmir. Simply put, RERA Karnataka effectively ensures real estate regulation within the state and protects the interest of its residents. Read on to know more about RERA Karnataka.

What are the Objectives of RERA Karnataka?

The primary objectives that are fulfilled by RERA Karnataka include:

• Ensure property regulation

• Ensure promotion of the Karnataka real estate sector

• Form an Appellate Tribunal for receiving complaints

• Establish a fast dispute settlement mechanism for property disputes

• Ensure immense transparency at the time of property sale in Karnataka

• Ensure the protection of the homebuyer’s interest

Steps to Register for Karnataka RERA

To register for Karnataka RERA, you must follow the below mentioned process:

• Step 1 - Visit the official Rera Karnataka website.

• Step 2 - Select ‘Registration’ located on the drop-down menu.

• Step 3 – Pick from the given choices that include Project Registration/Complaint Registration/Change Request/Post Registration/Apply for Extension and Quarterly Update.

• Step 4 - You’ll be directed to a checklist. Follow the list to understand the required documents needed to undertake the registration process.

• Step 5 - The next page lets you choose the promoter type (Individual or Societies/Company/Partnership Firm/Development Authority/Trust Agents.

• Step 6 – Furnish your Email ID. Once done, you can register the project.

Documents Required to Register in RERA Karnataka

1. Required Documents – For Promoters:

Promoters have to offer the below set of documents to register for a project online,

• Balance Sheet (for 3 years)

• Income Tax Return Acknowledgement

• PAN Card

• Encumbrance Certificate

• Commencement Certificate

• Approved Building/Plotting Plan

• Approved Layout Plan

• 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 Agreement for Sale

• Audited Profit and Loss Statement (for 3 years)

• Directors’ Report (for 3 years)

• Cash Flow Statement (for 3 years)

• Auditor Report

• 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

• Existing Layout Plan

• Existing Section Plan and Specification

• Change of Land Use

• BMRCL NOC

• Urban Land Ceiling NOC

• BESCOM NOC

• BWSSB NOC

• KSPCB NOC

• SEIAA 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

• Utilisation Certificate

• Transfer of Development Rights Certificate

• Relinquishing Deed

• Project Photo

• BSNL NOC

• Lift Authorities

2. Required Documents - For Individual Real Estate Agents:

Individual real estate agents must provide the following documents:

• Name of the agent (this must be as per PAN records)

• Contact details of the agent (mobile phone or telephone number)

• Agent's Email ID

• Self-attested ID proofs such as passport, voter ID card, Aadhaar card, driving license, and/or bank passbook with photograph

• PAN card (self-attested copy)

• Passport-sized photograph of the agent

• Agent notarized affidavit on Rs.100 stamp paper

3. Required Documents - Company, society, partnership firm, trust, development authority, or proprietorship firm:

For company, society, partnership firm, trust, development authority, or proprietorship firm, the following documents must be presented:

• Applicant's name

• 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)

RERA Karnataka Contact Number

If you wish to contact Karnataka Rera, you can use the following listed contact number and other details.

• Telephone: 080 – 22249798, 22249799

• Fax: 22253718

• RERA Karnataka Office Address: Real Estate Regulatory Authority Karnataka, 2nd floor, Silver Jubilee Block, Unity Building, CSI Compound, 3rd Cross, Mission Road, Bengaluru, Karnataka 560027

• Email ID: info.rera@karnataka.gov.in

Conclusion

RERA or Real Estate Authority of India has not only laid down certain regulations that the builders must adhere to, it has also prescribed certain definitions of a few real estate related terms that must be clearly and correctly quoted by the builder in the property documents. For example, you must make sure that the carpet area of the property is quoted as per the RERA norms. In case you plan to apply for a home loan for buying your new house, visit Bajaj Markets.