Real Estate (Regulation and Development) Act, RERA, the Karnataka state government is all set to roll out the final bill soon

Chief Minister office allays consumer fears of RERA Bill dilution; says buyer interests will be protected



Overcoming the inordinate delay in clearing the Real Estate (Regulation and Development) Act, popularly referred to as RERA, the state government is all set to roll out the final bill soon.

Drawing the curtains over confusion among buyers, the state government has clarified that it will not dilute the bill any further and soon, the bill will be notified after obtaining the consent of the state cabinet.

Prompted by rumours that the government had decided to dilute the bill following intense lobbying from real estate tycoons, home-buyers and members of Fight for RERA (Karnataka) on Friday met LK Atheeq, Principal Secretary-1 to Chief Minister Siddaramaiah and held prolonged discussions over the issue.

In a clarification, Atheeq assured them that the government will protect the interests of the people who are eagerly looking forward to investing in various projects across Karnataka. Speaking to media persons at Vidhana Soudha, Atheeq said, “Already the implementation of RERA has been delayed with several stakeholders expressing their concerns.

The government has been replying to their concerns at every step and clearing the confusion among public and builders. The bill will be placed before the cabinet in the next meeting and very soon it will be implemented.” The buyers had expressed concerns that implementation of RERA would affect already completed projects that are awaiting occupancy certificate and had sought omission of such projects from the purview of RERA. However, the government has reportedly assured them of all the support and promised that buyers’ interests will be protected.

other states that have notified the rules are Uttar Pradesh, Gujarat, Odisha, Andhra Pradesh, Maharasthra, Madhya Pradesh and Bihar.

The housing ministry had last year notified the rules for five UTs—Andaman and Nicobar Islands, Chandigarh, Dadra and Nagar Haveli, Daman and Diu, and Lakshadweep, while the urban development ministry came out with such rules for the National Capital Region of Delhi. The other states and UTs will have to come out with their own rules.

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