Karnataka RERA Leaves Home buyers Disappointed

Edited by "Smitha TK" |  The Property Show on NDTV  |  July 21, 2017

Karnataka RERA leave buyer disappointed
Karnataka RERA leave buyer disappointed

The Real Estate Regulation and Development Act or RERA, will have a monumental impact by weeding out malpractices and unscrupulous brokers and builders. Builders will now have to disclose all project-related information including plan, layout, government approvals. But states have been delaying to notify the rules.

 After a two month long wait, the Karnataka government has finally notified the rules but there has been a lot of criticism as homebuyers believe rules have been diluted. Here are Top 3 takeways of the Karnataka RERA:

1. Ongoing projects, where 60% work has been completed or 60% sales done, will be out of the ambit of the Act. This will be a loophole for many developers to exploit.

 2. Also, all this will be certified by a ‘competent agency,’ but there is ambiguity as to who the agency will be. 

 3. The imprisonment clause has been completely done away with.

Homebuyers are thoroughly disappointed and demand clarity of the terms.

"These exclusions create a lot of questions among the existing buyers who are eagerly waiting for RERA to resolve their problems. Every individual, every homebuyer has a question, he want to know if his project will come under the ambit of RERA or not? How will the data be compiled? Who will certify the data? Where will it be available? All homebuyers are totally in the dark,’ says Shankar, Convenor of Fight For RERA (Karnataka Chapter).

 But developers and realtors claim that the draft has incorporated all other aspects of the Centre's notification. In the current scenario where Bengaluru is already reeling under pressure with launches dropping by 42% and sales by 19%, developers are betting on the implementation of this Act to help streamline and pull up the industry. 

"There was a demonetisation phase, GST and then RERA. The developer group  is going to be very careful before launching. Yes, the timelines are pre-committed so you have to be very sure what kind of projects you are coming up with, and what is the sales traction you are expecting. I think in the short term basis there is going to be a definite  impact on the supply side of it but in the next 9 months time this scenario will change and things will pick up,’ says Shantanu Mazumder, Director of Knight Frank India – Bangalore.

 Until recently Bengaluru was a resilient residential market, but today it is feeling the heat. The long list of piled up projects and deferred delivery dates has hampered the growth. Experts are hoping once RERA is in place, along with the already completed metro rail and launch of smart city project, things will turnaround for the city. 

 

 

BangaloreBengaluruHome BuyerKarnatakareal estateRERA

20 thoughts on “Karnataka RERA Leaves Home buyers Disappointed”

  1.        ★COMPOSITE HACKS★ 🔍🔍Are you Seeking for the Best Legit Professional Hackers online??❓💻💻💻Congratulations Your search ends right here with us. 🔍🔍🔍🔍 🏅COMPOSITE HACKS is a vibrant squad of dedicated online hackers maintaining the highest standards and unparalleled professionalism in every aspect.We Are One Of The Leading Hack Teams in The United States🇺🇸🇺🇸 With So many Accolades From The IT Companies🏆🏅🥇. In this online world there is no Electronic Device we cannot hack. Having years of experience in serving Clients with Professional Hacking services, we have mastered them all. You might get scammed for wrong hacking services or by fake hackers on the Internet. Don't get fooled by scamers that are advertising false professional hacking services via False Testimonies, and sort of Fake Write Ups.❌❌❌❌ COMPOSITE HACKS is the Answers to your prayers. We  Can help you to recover the password of your email, Facebook or any other accounts, Facebook Hack, Phone Hack (Which enables you to monitor your kids/wife/husband/boyfriend/girlfriend, by gaining access to everything they are doing on their phone without their notice), You Wanna Hack A Website or Database? You wanna Clear your Criminal Records?? Our Team accepts all types of hacking orders and delivers assured results to alleviate your agonies and anxieties. Our main areas of expertise include but is never confined to: ✅Website hacking 💻,✅Facebook and social media hacking📲, ✅Database hacking, Email hacking⌨️, ✅Phone and Gadget Hacking📲💻,✅Clearing Of Criminal Records❌ ✅Location Tracking✅ Credit Card Loading✅ and many More✅ 🏅We have a trained team of seasoned professionals under various skillsets when it comes to online hacking services. Our company in fact houses a separate group of specialists who are productively focussed and established authorities in different platforms. They hail from a proven track record and have cracked even the toughest of barriers to intrude and capture or recapture all relevant data needed by our Clients. 📲💻 🏅 COMPOSITE HACKS understands your requirements to hire a professional hacker and can perceive what actually threatens you and risk your business⚔️, relationships or even life👌🏽. We are 100% trusted professional hacking Organization and keep your deal entirely confidential💯. We are aware of the hazards involved. Our team under no circumstances disclose information to any third party❌❌. The core values adhered by our firm is based on trust and faith. Our expert hacking online Organization supports you on time and reply to any query related to the unique services we offer. 💯 🏅COMPOSITE HACKS is available for customer care 24/7, all day and night. We understand that your request might be urgent, so we have a separate team of allocated hackers who interact with our Clients round the clock⏰. You are with the right people so just get started.💯✅ ✅CONTACT US TODAY VIA:✅📲 compositehacks@gmail.com 📲

    Reply

  2. i was lost with no hope for my wife was cheating and had always got away with it because i did not know how or always too scared to pin anything on her. with the help a friend who recommended me to HACKINTECHNOLOGY AT g mail dot com who help hack her phone, email, chat, sms and expose her for a cheater she is. I just want to say a big thank you to HACKINTECHNOLOGY At G mail DOT com. am sure someone out there is looking for how to solve his relationship problems, you can also contact him for all sorts of hacking job..he is fast and reliable. CONTACT via text +1 845 643 6145 or text on whats app through this number + 1 845 643 6145

    Reply

  6. CLASSIC CYBER NOTCH How well are you prepared for a cyber incident or breach? Is your data safe?.  Strengthen your cybersecurity stance by contacting CLASSIC CYBER NOTCH @ GMAIL DOT COM for a Perfect, Unique, Classic and Professional Job in securing your Network against Breaches of All Sort and also we do virtually All kind of Cyber Jobs, be it Cyber Security or Hijacking without trace and with utmost Professionalism and Confidentiality.        We offer services such as : Private investigators service  Phone /Computer hack  Clearing criminal record  Binary options recovery  Bit coin mining   Increase Credit score  Issue Blank ATM  Spyware installation  Social media platform hack  E-mail hack  and many more….         Our Success Rate is Top Notch   Contact us today @ Classic cyber notch @ gmail dot comto get the Best professional hands involved in putting a smile on your face.     Signed   Collins  .A 

    Reply

  11. I enjoy you because of your own efforts on this blog. My mum takes pleasure in conducting investigation and it is obvious why. We all know all of the compelling way you present simple items via this web site and welcome response from some other people on that matter plus our own child is now becoming educated a lot. Have fun with the remaining portion of the new year. You are always conducting a fabulous job.

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement

Back to Shopping Carnival