Now, builders will get permanent registration Numbers

These will be mandatory for real estate players before marketing or sale of any property: RERA

Published: 02nd April 2018 04:15 AM  |   Last Updated: 02nd April 2018 04:15 AM   |  A+A-

Express News Service

BENGALURU: To further safeguard the interests of property buyers in the State, the Karnataka Real Estate Regulatory Authority (RERA) on April 1 initiated the process of issuing permanent numbers to all the properties registered with it. The move has been effected in order to put an end to some real estate builders going ahead with their marketing activities just after initiating the registration process with the Authority without waiting for the outcome.

An acknowledgement number or provisional registration number is issued to a builder or real estate agent as soon as the process to get registered begins. The home page of the RERA portal declares that such provisional registration numbers are now invalid and permanent registration numbers are mandatory before marketing or sale of any property.

A top RERA official told The New Indian Express, “The acknowledgement number is equivalent to a token and gets issued automatically to those who register on the portal. It does not mean that the property has been approved by us. However, this gets used in advertisements and other activities as if the property has got our consent and misleads the public.”

RERA has now uploaded the permanent property numbers of the 1,466 projects registered with it on its portal, https://rera.karnataka.gov.in “Out of the 2,055 project applications received, 1,466 approved by us were issued permanent numbers on Sunday, and 52 have been rejected,” said another official.

Similarly, RERA is also issuing permanent numbers to brokers who register with it. “Out of the 1,031 agent applications received, 841 property agents have been issued their numbers,” the official added. Those misleading the public by making use of acknowledgement numbers issued in their promotional material will be made to pay a penalty amount which could touch up to a maximum of 10 percent of the property cost, a senior official said.

1.5 LAKH PROPERTY DOCUMENTS DOWNLOADED

Citing the keenness among public to crosscheck all aspects related to a property before investing in it, a senior RERA official told TNIE that over 1, 50,000 documents had been downloaded from its website since March 12 when it made public all documents pertaining to every property registered by it. "It is not even three weeks since we went live with them. The response has been overwhelming and people all over the world have been gaining access to the documents," he said.

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