- More than half of them are in Bengaluru
- Karnataka RERA Disclosure
Karnataka’s Real Estate Regulatory Authority (K-RERA) has revealed that over 2,630 projects in the state were not completed within the stipulated deadlines last year. Almost half of these delayed projects are located in Bengaluru.
According to the K-RERA data, 1,301 projects in Bengaluru were delayed. Additionally, 1,007 projects have already applied for extensions. K-RERA has provided details on its website, informing which project registrations have passed their deadline. There has been criticism regarding the delays in projects and the actions taken by K-RERA. Despite numerous complaints, there are allegations that Karnataka RERA and government agencies have not properly addressed the issue.
In this context, Digital South Trust has already written a letter to Prime Minister Modi, urging him to intervene in the matter. The organisation has called for stricter legal actions to protect homebuyers from further exploitation and has also recommended real-time monitoring of projects.
According to the RERA Act, developers must register each project with RERA and obtain approval by specifying the time required for the completion of the project. In case of any issues or unforeseen obstacles causing delays, developers are required to inform RERA and apply for an extension of the deadline. However, it appears that many projects in Karnataka have passed their deadlines without applying for such extensions.
In light of this, experts are advising homebuyers to carefully check whether the project they are interested in has a specified deadline and whether it is being adhered to.
