RERA in Karnataka: How to Register Project?

In India, Karnataka is one of the most prominent Real Estate Markets needed a Real Estate Regulatory Authority on an immediate basis. As a result, the State Cabinet had decided to implement RERA in Karnataka, and RERA Karnataka Rules 2017 were enforced.

Further, as per the Karnataka RERA Rules, it is mandatory for every promoter/developer and real estate agent to obtain registration under RERA.

Also, according to the RERA Karnataka website, at present, there are around 4322 RERA Karnataka approved Projects, 2393 Real Estate Agents, and 4779 Complaints registered, so far.

In this blog, we will discuss the concept of RERA in Karnataka, together with the Process to Register Project.

Objective of RERA

The key objectives of RERA are as follows:

1. Promote Transparency in the Real Estate Industry;
2. Infuse Financial Discipline and Accountability;
3. Protect Buyers Interest and Rights;
4. Prevents Wrongdoings;
5. Eliminates Miscreants;

Documents Required for the Registration of Real Estate Project

The documents required for the Registration of Real Estate Project under RERA in Karnataka are:

1. Balance Sheet for the last 3 Financial Years
2. Audited Profit & Loss Statement for the last 3 Financial Years
3. Directors’ Report for the last 3 Financial Years
4. Cash Flow Statement for the last 3 Financial Years
5. Auditor Report
6. ITR (Income Tax Return Filing) Acknowledgement
7. PAN (Permanent Account Number)
8. EC (Encumbrance Certificate)
9. Commencement Certificate (CC)
10. Approved Building
11. Plotting Plan
12. Approved Layout Plan
13. Performa of the Agreement for Sale
14. Sale Deed and RTC
15. Approved Section of Building
16. Infrastructure Plan of Plotting
17. Area Development Plan of the Project Area
18. Performa of the Allotment Letter
19. Brochure of the Current Project
20. Performa of the Sale Deed
21. Project Specification
22. Collaboration Agreement/Joint Development Agreement/Development Agreement/Other Agreement
23. Declaration in Form B
24. Khatha
25. Other Documents (Title/Rights/Interest/Name)
26. Approval or NOC (No Objection Certificate) under Section 109 of the KLR Act 1961
27. Approval or NOC under Section 14 of the KTCP Act
28. NOC from the Fire Force Department
29. Airport Authority of India (AAI) NOC
30. BESCOM NOC
31. BWSSB NOC
32. KSPCB NOC
33. SEIAA NOC
34. BSNL NOC
35. BMRCL NOC
36. Urban Land Ceiling NOC
37. Lift Authorities
38. Existing Layout Plan
39. Existing Section Plan and Specifications
40. Change of Land Use
41. Sectional Drawing and Layouts of the Apartments
42. Permission from the Bangalore Urban Arts Commission
43. Permission from the Inspector of Factories Controller of Explosive Railways
44. Approval from District Magistrate
45. Approval from the Coastal Regulation Zone Authority
46. Certificate from the Registered Engineer signifying the Structural Safety of the building
47. NOC for the building proposals adjoining to neighboring properties;
48. Advocate Search Report
49. Utilisation Certificate
50. Transfer of Development Rights Certificate
51. Relinquishing Deed
52. Project Photo

Process to Register a Real Estate Project under RERA in Karnataka

The steps included in the process to register a Real Estate Project under RERA in Karnataka are as follows:

Visit the Official Website

In the first step, the applicant needs to visit the official Karnataka RERA portal^[1].

Select Project Registration

Now, he/she needs to click on the option “Project Registration” available at the bottom left of the homepage.

Fill Registration Form

In this step, the applicant needs to provide his/her email id and requires to choose the promoter type from the options available. After that, click on the option “Next” to get re-directed further.

Promoter Details

In the first step, the applicant is asked to furnish all the basic personal details, such as Name, Father’s Name, Address, Mobile Number, Registration Form, Address, etc.

Project Details

Over here, the applicant needs to provide the details regarding the real estate project for which he/she requires RERA Registration in India.

Upload Necessary Documents

Now, in the third part of the registration form, the said applicant requires to upload all the necessary documents in the order asked.

Make Fee Payment

After that, in the fourth part of the form, he/she needs to pay the fees applicable.

Confirmation

In the fifth and the last section, the applicant needs to confirm that all the details, information, and documents furnished by him/her are true, correct and best to his/her knowledge.

Submit Form

Lastly, the applicant requires to submit the filed registration form by clicking the option “Submit”.

Also, Read: Documents Required For RERA Registration in Maharashtra

Documents Required for the Registration of Real Estate Agent

The documents required for the registration of a Real Estate Agent under RERA in Karnataka are as follows:

1. PAN Card
2. Aadhar Card
3. Latest Passport-sized Photograph
4. Certificate of Incorporation (COI) as the Proof of Registration.
5. Business Plan Card

Process to Register a Real Estate Agent under RERA in Karnataka

The steps involved in the Process to Register a Real Estate Agent under RERA in Karnataka are as follows:

Visit the Official Website

In the first step, the applicant needs to visit the official Karnataka RERA portal.^[2]

Select Agent Registration

Now, he/she needs to click on the second option saying “Agent Registration” available at the bottom left of the homepage.

Fill Registration Form

In this step, the applicant needs to provide his/her email id and requires to choose the agent type from the options available. After that, click on the option “Next” to get re-directed further.

Basic Details

In the first step, the applicant is asked to furnish all the basic personal details, such as Name, Father’s Name, Address, Mobile Number, PAN, Address, etc.

Upload Necessary Documents

Now, in the next part of the registration form, the said applicant requires to upload all the necessary documents in the order asked. Moreover, he/she requires file an affidavit for the same as well.

Make Fee Payment

After that, in the fourth part of the form, he/she needs to pay the fees applicable.

Confirmation

In the last section, the applicant needs to confirm that all the details, information, and documents furnished by him/her are true, correct and best to his/her knowledge.

Submit Form

Lastly, the applicant requires to submit the filed registration form by clicking the option “Submit”.

Also, Read: Importance of RERA Registration in Real Estate

Fees for Real Estate Project Registration under RERA in Karnataka

The fees for Real Estate Project Registration under RERA in Karnataka can be summarised as:

Type of Real Estate Project	Applicable fees
Group Housing Project with the Developable Land of less than 1000 sq. mtr;	Rs 5 per sq. mtr
Group Housing Project with the Developable Land of more than 1000 sq. mtr;	Rs 10 per sq. mtr (maximum up to Rs 5 lakhs)
Mixed Development Project with the Developable Land of less than 1000 sq. mtr;	Rs 10 per sq. mtr
Mixed Development Project with the Developable Land of more than 1000 sq. mtr;	Rs 15 per sq. mtr (maximum up to Rs 7 lakhs)
Commercial Project with the Developable Land of less than 1000 sq. mtr;	Rs 20 per sq. mtr
Commercial Project with the Developable Land of more than 1000 sq. mtr;	Rs 25 per sq. mtr (maximum up to Rs 10 lakhs)

Fees for Real Estate Agent Registration under RERA in Karnataka

In case the proposed Real Estate Agent is an individual, then he/she needs to pay the Registration Fees of Rs 25000. However, if the proposed Real Estate Agent is anyone other than an individual, then it must pay the Registration Fees of Rs 2 Lakhs. Also, the payment for the same can be made through the modes as follows:

1. Demand Draft (DD)
2. A Banker’s Cheque that is drawn on any Co-operative or Scheduled Bank.
3. Online payment

Penalty

In case of the non-registration of the real estate project with the RERA in Karnataka, section 59 of the Act imposes a penalty of up to 10% of the total excepted project cost.

However, in the case of continuous default, an extra penalty of up to 10% of the total expected project cost or imprisonment up to 3 years or both will be levied.

Conclusion

In a nutshell, KRERA or RERA in Karnataka is the Real Estate Regulatory Authority, responsible and accountable for protecting and safeguarding the rights of home buyers. Also, it aims to protect the wrongdoings in the Real Estate Sector by eradicating miscreants and fly-by-night operators.

Also, Read: RERA Registration for Real Estate Projects