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Project registration fees for RERA in KARNATAKA.
- Author: Yash Verma
Highlights
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In case of group housing project, Rs.5 per sq.m for projects where the area of land proposed to be developed does not exceed 1,000 sq.m or Rs.10 per sq.m for projects where the area of land proposed to be developed exceeds 1,000 sq.m, but shall not be more than Rs.5 lacs.
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In case of plotted development projects Rs.5 per sq.m, but shall not be more than Rs.2 lacs.
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The registrations have been going on in Karnataka even after the passing of the deadline.
Karnataka was one of the few states to notify the RERA rules in the early month of July, which were nodded by the Karnataka cabinet. There were few shortcomings issued by the consumers as well as builders, but the Karnataka RERA was still way ahead on track than other state RERA Authorities. The Karnataka RERA portal was however launched on 24 th July, which only left a week for the project registrations to be done prior the deadline. Karnataka RERA Authority had notified the rules in the early month of July, which was still much sooner as there are few states who haven’t notified them even after the deadline.
According to the RERA rules notified by the Karanatak government , the fee structure for Project registrations in the state are as follows :
- In case of group housing project, Rs.5 per sq.m for projects where the area of land proposed to be developed does not exceed 1,000 sq.m or Rs.10 per sq.m for projects where the area of land proposed to be developed exceeds 1,000 sq.m, but shall not be more than Rs.5 lacs;
- In case of mixed development (residential and commercial) project Rs.10 per sq.m for projects where the area of land proposed to be developed does not exceed 1,000 sq.m or Rs.15 per sq.mfor projects where the area of land proposed to be developed exceeds 1,000 sq.m, but shall not be more than Rs.7 lacs;
- In case of commercial projects Rs.20 per sq.m for projects where the area of land proposed to be developed does not exceed 1,000 sq.m or Rs.25 per sq.m for projects where the area of land proposed to be developed exceeds 1,000 sq.m, but shall not be more than Rs.10 lacs; and
- In case of plotted development projects Rs.5 per sq.m, but shall not be more than Rs.2 lacs.
The registrations have been going on in Karnataka even after the passing of the deadline, and there has been no confirmation about the fine that might be imposed on registrations done after the deadline. The Karanataka government has recently indicated on penalizing the projects registered after the deadline. Also Read: Fee structure for Project registrations under RERA in TELANGANA.
The project registrations are still under way as the Karnataka RERA Authority have not barred the process, but it is expected that there will be a heavy fine imposed on all the projects registered after 31 st July,2017.
TAG: RERA rules, Karnataka RERA portal, Karnataka RERA Authority
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