924 projects may be blacklisted in Karnataka by RERA


THE KARNATAKA RERA AUTHORITY MAY IN ALL LIKELIHOOD BLACKLIST AS MANY AS 924 PROJECTS in KARNATAKA, 90% of the projects are located in and around Bangalore.

According to Urban Development and Housing Minister U.T. Khader, these projects were identified for not having registered under RERA and were issued the notice. “Since they did not respond, we will blacklist them,” he told presspersons.

RERA issued1,626  to developers/project heads for allegedly flouting RERA norms and in  604 cases the developers gave satisfactory responses and some projects have even been approved.

He said officials were checking brochures and paper advertisements to keep an eye on more projects not complying with the RERA norms. The urban local bodies have been asked to list out projects as soon as plan approvals are given and are scrutinising the projects.

Even then, it is noticed that innumerable illegal construction is progressing within the city limits and the BBMP is turning a blind eye and have not taken any legal action on such projects.

There is one simpler way to restrict such illegal constructions is by BLOCKING THE HOME LOAN from all the NBFC and financial institutions.

Secondly, initiating legal recovery of the loan lent.

Thirdly, withdrawal of Income Tax Benefits for the illegal and unauthorised buildings.

and Finally, the katha cannot be legally issued to such illegal and unauthorised buildings, which will discourage the sellers/agents/builders not to flout the norms as they may not be able to register the property in the jurisdictional Sub-Registrar office.