Karnataka RERA covers many ongoing plans, home buyers happy !

RERA-2

By Accommodation Times Bureau

Homebuyers may stand to benefit from the provisions of the Real Estate (Regulation & Development) Act notified by the Karnataka government on Monday . It, among other things, brings a huge number of ongoing projects under the purview of the law.

The government had come under criticism for the draft rules published last week which said ongoing projects, where 60% development work had been completed or 60% of the apartments/houses/plots had been registered and executed, would not come under the purview of the Act.

Buyers felt that the provision gave a leeway to the developers to slip out and there was also confusion as to how a consensus could be reached on such an arbitrary number.





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