Under RERA most new projects must be registered before they are sold. What registration tells you, what to check on the K-RERA website, and what you can do if a project is delayed.
The Real Estate (Regulation and Development) Act, 2016, known as RERA, changed how new apartments and plots are sold. In Karnataka it is administered by the Karnataka Real Estate Regulatory Authority, K-RERA. For a buyer booking in an under-construction project, it is the first place to look.
Which projects must register
Promoters must register most new projects before advertising or selling them. Small projects below the thresholds in the Act are exempt: broadly, where the land is no more than 500 square metres or there are no more than eight units. A project being sold without registration when it should have one is a warning sign in itself.
What to check on the K-RERA website
- The project's registration number, matching the one in the advertisement and the agreement.
- The promoter's details and past projects.
- The approved plans and the documents behind the promoter's title to the land.
- The declared completion date.
- The quarterly progress updates the promoter is required to file.
What the Act gives you
Promoters must keep a set share of the money collected from buyers in a separate account and use it for the project. The agreement for sale must follow the prescribed form. And if the promoter fails to hand over possession by the agreed date, a buyer can choose either to withdraw and seek a refund with interest, or to stay in the project and claim interest for each month of delay.
If things go wrong
Complaints are filed with K-RERA online, with the agreement, payment receipts and correspondence. Orders can be appealed to the Appellate Tribunal. Keep a complete record of every payment and every letter from the start; it is the evidence a complaint will rest on.