BENGALURU: Officials of Real Estate Regulatory Authority (RERA) of the state have urged builders and developers to register all ongoing as well as new launches, as per the Real Estate (Regulation and Development) Act latest by July 31. According to a release, all individuals involved in the real estate business have to register on www.rera.karnataka.gov.in.
The website also has an option for residents to file complaints against promoters or agents for violating RERA regulations. The release stated that no agent or promoter will be legally empowered to sell properties until he registers under RERA. “Any real estate agent failing to comply with or contravenes the provisions of RERA shall be liable to a penalty of `10,000 for every day during which such default continues, which may cumulatively extend up to five per cent of the cost of plot or apartment or building.