BENGALURU: In a move that can be of immense help to people looking to invest in a home, the Real Estate Regulatory Authority of India-Karnataka (RERA-K) has made public a list of 2,403 projects, both government and private, that have missed their completion deadlines, making them lapsed.
In addition, five projects have been listed in the category of those that have defaulted, which includes the Bangalore Development Authority’s Nadaprabhu Kempegowda Layout.
A whopping 10,215 complaints have been received by RERA-K against ongoing projects that have also been put in the public domain. On its website, RERA-K advised caution: “The proposed project completion date for this project is expired, the buyers make an informed decision accordingly.”
"Lapsed projects refer to projects that have not applied for extension despite the expiry of the completion date", said a RERA official. “From the list of lapsed projects, we have called a few for hearing. Those who have not attended the hearing too have been put on the default list,” he added.
M S Shankar, General Secretary of the Forum for People’s Collective Efforts (FPCE), an umbrella body of homebuyers that played a crucial role in the RERA enactment, told TNIE, “There is a huge jump in lapsed projects. When we called for action in such projects on August 13, 2020, there were only 842 lapsed projects. It has shot up to 2,403 now.”
Despite the lapse of registration in the case of hundreds of projects, K-RERA had not initiated any action, he said. “If any action has been initiated, there is no data or transparency on it that the RERA Act manadates,” he added.
Shankar called for physical inspection of all lapsed projects and that appropriate action be taken. The full list can be accessed on the RERA-K website.
Default list
The Kempegowda Layout completion deadline was December 31, 2021, and the BDA has yet to get an extension for it. The only project in Bengaluru urban in the default list is ‘Konduru Srinivasulu’. The other projects are: ‘Raaga-1’ in Mysuru, ‘Sumeet Nagar’ in Kalaburagi and ‘Somyaji Kalpavruksha’ in Dakshina Kannada.