BENGALURU : A major initiative to secure the interests of property buyers has been undertaken by the Karnataka Real Estate Regulatory Authority (K-RERA) recently. Certification from RERA, which is mandatory for all real estate projects in the State, will be provided only if the builder is able to establish the source of water supply for his buyers.
K-RERA Chairman HC Kishore Chandra told The New Indian Express, "We have recently made it mandatory for the buyer to produce the No Objection Certificate either from the Bangalore Water Supply and Sewerage Board if within its jurisdiction, or from the Panchayat office. Without proof of it, we will not be issuing the certificate from our end."
This certificate is given by the Water Board only after the builder pays the initial deposit to the authorities. "Earlier, the builder used to give us assurances on arrangement of water supply but at present we insist on documents at the time of application only," he added.
An official clarified that if the area is not given water either by the BWSSB or the panchayat, the builder needs to furnish guarantees that tankers would be arranged at personal cost for them in the future. Two other major initiatives are in the offing to safeguard buyers. One is pertaining to spot visits.
Though engineers have done it earlier, the three-member RERA team comprising of the Chairman and two members, D Vishnuvardhan Reddy and Neelamani Raju visited the site. Another major step that will be initiated shortly is that the RERA portal is being upgraded so that all details pertaining to the builder will be displayed to allow the buyers to make an informed decision before the sale.