K-RERA: a guide for builders in Karnataka

The authority

Karnataka Real Estate Regulatory Authority (K-RERA). Official website.

What to know

• Projects need RERA registration before any advertising, booking or sale (Section 3); the Act exempts projects where the land is 500 sq m or less, or there are 8 apartments or fewer.
• 70% of money collected from allottees must sit in a separate bank account and be withdrawn only in proportion to construction progress, certified by an engineer, architect and chartered accountant (Section 4(2)(l)(D)).
• Promoters must update the project page on the RERA website every quarter with bookings and construction status (Section 11(1)).
• Real estate agents and channel partners must register with the authority before facilitating any sale (Section 9).

Related for Karnataka

• Stamp duty and registration in Karnataka
• CRM for builders in Bengaluru
• CRM for builders in Mysuru
• CRM for builders in Mangaluru
• Real-estate glossary

Sources

1. Karnataka RERA (official)
2. IGR Karnataka (official)
3. Real Estate (Regulation and Development) Act, 2016 — India Code
4. Deccan Herald — Registration fee hiked to 2%
5. King Stubb & Kasiva — Karnataka doubles property registration fee
6. Sobha — Karnataka stamp duty rates
7. Deccan Herald — GBA is born, 5 corporations to govern city
8. The News Minute — GBA to replace BBMP from Sept 2

RERA guides for other states