RERA has brought amazing stability and transparency to Indian Real Estate. The Real Estate Regulatory Authority has taken the entire industry under its wing. It boosted the trust factor and helped the home buyers steer away from fraud and scamsters in the realty industry.
RERA also made sure that there every project in the country, be it ongoing, under construction, newly launched, or ready to move categories, is brought under it's single authority by registering under the individual state RERA body.
Bangalore is one of India's biggest real estate markets, too, embraced the change for the better. Karnataka RERA or KRERA has seen some of the largest numbers of registrations ever since its inception.
Every residential project in Bangalore has to undergo the RERA Registration process before officially being sold to the residents. Besides, not just the projects but the promoters of the project should also be registered under RERA. The builders, too, have to submit an affidavit stating all the project details. Thus everything real estate came under one roof - RERA! This has severely brought down the inaccuracies and illegal scams.
Thus, it is changing the country's largest asset class sector into a properly organized sector that'll benefit one and all while keeping away the unwanted elements altogether.
Now let's move onto the important questions at hand-
These are the procedures for registering a project in Karnataka RERA.
Step 1 - Go to Karnataka RERA's official website - rera.karnataka.gov.in and click on Project Registration.
Step 2 - Choose the type of registration, either individual or society, and enter your mail ID.
Step 3 - Fill out the promoter details, including Adhaar number, PAN number, etc., and project details.
Step 4 - Upload the necessary documents - refer to the list above.
Step 5 - Finally, proceed with the payment & confirmation of the same.
After the project is officially registered under RERA, it is given a unique identification number. This acts as a proof or validity of the building.
It's very easy to check the RERA Registration number online, all you have to do is,
Step 1 - Go to K RERA official website and click on the services tab
Step 2 - Select Project Status
Step 3 - Add either Project Name or Builder Name
Step 4 - You'll get information regarding the project, including the application status and RERA Registration Number.
RERA has also brought about many advantages for Buyers and Builders; a few of them are as follows-
It's now very easy to file a complaint on K RERA online portal. All you have to do is the following steps.
Step 1 - Go to the K RERA website - rera.karnataka.gov.in.
Step 2 - If you are a new user, then create an account.
Step 3 - Click on the Register Complaint option.
Step 4 - Upload the right information regarding the complaint and documents supporting the same.
Step 5 - Once the details are entered, make an online payment, and publish an acknowledgment slip.
In July of 2017, Karnataka RERA was approved by the cabinet. Since then, the realty sector of Karnataka, especially Bangalore, has been very welcoming. This is major because all the major players, be it Home Buyers, Realtors, or Developers are benefitted from this act.
As of January 2021, 4498 projects have applied for RERA Registration. Also, 5145 RERA Complaints & 2490 Agents have been registered in Karnataka RERA. These numbers clearly indicate that as each day passes, the Indian Real Estate Sector is becoming or getting ahead into an organized sector, where it shall benefit the buyer, the middle man, and the seller all.
So, folks, we hope to give you a clearer picture of K RERA Registration and RERA Complaint filing procedures.
We will be back with more information in our "Realty Facts Series," shedding light on more topics.
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Well, we are aware that real estate has never exactly been one of those binge-worthy blog categories. It has neither been the kind of topic you could not get enough of, nor is it half as juicy as celebrity gossip.
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We make every one of our real estate blogs as interesting as it can get and attach with absolutely unique and accurate images, to provide you a better understanding. Not only do we cover a wide range of topics, but we also cover them at the right time. We update you on our socials such as Facebook, Instagram, Linkedin, Pinterest, and Twitter on every trending topic, so you are never miss anything and worry about being left behind!
However, we never go out of hand with our Indian real estate blogs that our beloved Readers have come to love over the years.
Everything in India is a state of constant flux; maybe that's why we Indians became one of the most adaptable and cosmopolitan people in the world!
If the nation's elements are shifting its focus, how can real estate be any different? Indian Real Estate Sector is perhaps one of the most dynamic ones in the entire world. Since the Real Estate in India is yet to be organized entirely, the variations in one segment affect another in ways difficult to comprehend.
The complexity and nuances can be understood only by reading about what is going on in the sector. Like we mentioned above, it affects every one of us. Hence it is essential to keep up to date.
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We also try to solve every home-related query through our Indian real estate blogs. And that's not all. We provide you insights on technologies that make the modern taste and rate of development possible, detailed analysis on real estate projects, insights on loans and taxes, advice on the home buying process, and articles on health and fitness. We provide you information about the trending topics in the Indian real estate industry.
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