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RERA being blamed for inaction in Karnataka

Dated on: Wednesday 29th May 2019

Blaming cycle continues when 37% of 2581 projects registered under RERA Karnataka fails to meet the completion deadline. According to the RERA Act, a builder has to declare the completion date at the time of registration and in case of failure to meet the deadline, he can seek extension once for a maximum of one year.  In case the project is not completed within the maximum allowed time frame the RERA can confiscate his escrow account and initiate legal action. The authority seems to be helpless in this case.

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