Only 1,066 projects register with RERA

The Karnataka Real Estate Regulatory Authority (RERA) continues to receive a poor response with very few builders and agents registering with it.

The authority had set August 31 as the deadline for all real estate projects to be registered with it.

As on August 30, the authority has received only 1,066 applications from project developers, and 432 applications from agents. Of these, the authority has approved only 15 projects and 89 agents. The authority, which has no clarity on the total number of ongoing projects across the state, is coordinating with various agencies like the BBMP and District Urban Development Cells with whom the projects/agents are registered.

The authority has issued notices to 55 defaulters, who have advertised and failed to register with it. The defaulters are given three days' time to give an explanation, following which the authority's legal team will determine whether or not the builders/agents should be penalised.

According to officials, the authority has collected around Rs 20 crore as registration fees.

It has also received 42 complaints, mostly from buyers, about delays in project completion.