After dilly-dallying, state-owned housing development agencies, including the Bangalore Development Authority and Karnataka Housing Board, have agreed to register their projects under the Karnataka Real Estate Regulation Authority (KRERA).
“Initially, there was confusion. Now that the Karnataka law department has cleared the air, we’ve decided to register our ongoing projects under KRERA,” BDA Commissioner Rakesh Singh said.
This gives hope to beneficiaries of houses and sites developed by government housing development authorities, especially those who were allotted sites in BDA layouts -Nadaprabha Kempe Gowda, Shivaram Karanth and Arkavathy.
“Once these layouts are registered, government agencies will have to complete their projects on time or face action. All property disputes would have to be addressed in 60 days or else the buyer will get compensation,” said a KRERA official.
All private layouts approved by BDA, BBMP and Bangalore Metropolitan Regional Development Authority must register under KRERA.
“We’ve identified 188 layouts approved by BDA in north Bengaluru and issued notices to get registered under KRERA at the earliest. So far, 12 have complied. We’ll identify such layouts in other parts of Bengaluru”, KRERA Secretary R Vinoth Priya said.
The KHB has registered three ongoing projects in Bengaluru. “KHB projects and KHB-approved projects will come under RERA now and they have registered all ongoing projects,” said Priya.
The BDA and other housing development authorities were hoping for exemption from RERA since they are registered as nonprofits. These agencies had received relief after the Karnataka State Government Employee’s House Building Cooperative Society and others had approached the high court, claiming RERA infringed on their rights under the Karnataka Co-operative Societies Act, 1959, as the power for making legislation for cooperative societies is the exclusive jurisdiction conferred upon the legislatures.
The court is awaiting the order of the Bombay High Court where the hearing is on a similar petition. Quoting RERA, Priya said both private and public institutions which develop real estate projects for sale to the public must register under RERA.
Madhusudhan S, a realty consultant, said bringing housing projects developed by government agencies under the purview of RERA will impact the progress of layout development as it could end up in legal tangles.
But this would certainly put an end to fly-by night operators who lure buyers by carrying an ‘approved by BBMP, BDA, BMRDA’ tagline in ads for their projects.