RERA Karnataka - RERA Karnataka Project Details

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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.

State-Wise RERA Act

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Government Schemes

The Karnataka RERA is the authority that regulates the function of real estate in the state. It is the body responsible for the protection of the rights of home buyers. It ensures that unfair practices do not prevail in the state.

To get RERA approved, you must register yourself with the authority. You are also required to submit the essential documents as prescribed by RERA to register yourself as a developer.

The Karnataka RERA rules were approved by the state cabinet on the 5th of July, 2017.

The Karnataka RERA is applicable to all ongoing projects, promoters, real estate agents.