BENGALURU: With not even one year completed since Real Estate Regulatory Authority (RERA) commenced operations in Karnataka, the body has already emerged as a trendsetter in the country. Ranked No. 2 in the country in the implementation of the RERA Act, many states are making a beeline to its head office in Bengaluru to benefit from its expertise.
The statistics which are out on the public domain speak for themselves. Penalty amount collected from violating builders: Rs 7 crore from over 500 building projects. Real estate projects rejected by RERA as on date are 175 and projects under its investigation are 936. The projects approved as fit for investment since its launch on July 26 last year are 1,942.
A huge chunk of the credit for making the RERA Act a powerful tool to regulate real estate sector goes to its first interim chairman Kapil Mohan, who also served as the Principal Secretary to the Housing Department.
His transfer a week ago to the Administrative Training Institute in Mysuru has shocked many. It is widely rumoured that his clampdown on big builders had upset many. Cooperative Societies, many of which have strong political backing, did not want RERA to regulate them. He has been replaced by interim chairman
T K Anil Kumar.
Asked about these allegations, Housing Minister U T Khader billed it as “a routine transfer”. Ruling out any involvement on his part, Khader said, “Transfers of all IAS/IPS officers are taken by the Chief Minister only. Ministers are allowed to request for change. But I am just 20 days into my role and I have not asked for any change in RERA.”