MahaRERA chief all set to make land title insurance obligatory

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RERA Karnataka to appoint private entity to find out unregistered projects in the state

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KRERA is planning to appoint a private entity to identify unregistered project in the State. The private entity firm will find out the ongoing projects and new launches which are not registered in RERA yet. KRERA has issued tenders for invitation of application for appointment of consultancy. The private entity will be submitting a detailed report to the authority by conducting ground level survey for identification of unregistered projects. “We are planning to execute the project on a trial basis for a month,” said P Sunil Kumar, secretary, RERA. RERA was using the plan sanction certificates issued by BBMP as preliminary information and was planning to send the surveyor to the address for physical verification. “We will scale up the project with more effective tools and expand it to the rest of Karnataka gradually,” said Kumar.  For More Visit: www.rerafiling.com
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Carpet area in RERA

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Before the implementation of RERA, the definition of the Carpet Area was very ambiguous and hazy. As a result, the homebuyers were intermittently  deceived  by the developers. They are were asked to make the payment even without getting the exact measurement of the area they were paying for.   But, RERA has solved the puzzle of lofty ambiguities by clarifying the definition of ‘Carpet Area’.   According to RERA, Carpet Area can be defined as - ‘the net usable floor area of an apartment, excluding balcony or verandah area and exclusive open terrace area, but includes the area covered by the internal partition walls of the apartment.”   The Authority has also perspicuously  categorised  three types of AREA as-       Carpet Area  which is the net usable  floor area  of an apartment, excluding balcony or verandah area and exclusive open terrace area, but includes the area covered by the internal partitio...
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Definition of Promoter in RERA

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After the enactment of RERA in 2016, the real estate sector has been bestowed with one of the most crystal clear norms that once seemed quite ambiguous. As per RERA, a promoter is a person who constructs or causes to be constructed an independent building or a building consisting of apartments, or converts an existing building or a part thereof into apartments, for the purpose of selling all or some of the apartments to other persons and includes his assignees.   The definition of a promoter is very intricate and complex which not only involves the new constructions but also conversions of existing buildings, plotting of land, commercial construction, contractor and estate development by any person acting as the holder of attorney from the owner of the land.   Under RERA, All builders and promoters who undertake a real estate project with over 8 units or 500 square meters of development are required to obtain RERA registration and fall under the ambit of RERA ...
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