1,076 realty projects yet to register with K-Rera

1,076 realty projects yet to register with K-Rera

For the first time, the Real Estate Regulatory Authority Karnataka (Rera-K) has come up with a list of unverified real estate projects. And the names are many: 1,076 to be precise. 

According to Rera-K, not a single of these projects has registered with it despite being served more than three notices. These projects have been categorised into ‘Projects Under Investigation’ on the Rera-K website with a warning. “Public is hereby informed that these projects are not registered with RERA and are under INVESTIGATION. The public is warned that dealing with these projects is at their own risk as these are not registered with RERA (sic).” 

The number of registered projects stands at 2,368. 

Although Rera-K has sought help from real estate associations to hold shady builders to account, activists have called the publication of the list “an eyewash”. 

Speaking of the unregistered projects, Latha Kumari K S, secretary, Rera-K, said the publication of the list was to give the builders another chance to submit the documents and register themselves. “We will be taking the help of real estate associations to reach out to these builders. We have already communicated the matter to the Confederation of Real Estate Developers’ Association of India (Credai)-Bengaluru,” she told DH

V K Jagadish Babu, president, Credai Karnataka, said all their members were registered with Rera-K but there was little they could do about non-members. Still, he said, Credai will extend all the support it can. 

M S Shankar, a Rera activist and the secretary of Fight for Rera-Forum for People’s Collective Efforts, called the list an “eyewash”, saying it warns new buyers but is silent about people who have already purchased properties from listed builders. “There is no mention of their losses. Rera-K should address this, too,” he added. 

The authority’s record in addressing complaints related to real estate projects is abysmal. It has disposed of just 779 out of the 2,070 complaints it received until February 13.