Posted by The real estate market in Bangalore is booming, offering numerous opportunities for both homebuyers and investors. However, with the rising number of projects, ensuring that you invest in a RERA-approved project is crucial. RERA, or the Real Estate Regulatory Authority, was introduced to ensure transparency and protect buyers from fraudulent practices.
As a leading real estate developer in Bangalore, NBR Group is committed to helping you make informed decisions. In this guide, we will explore the importance of RERA approval and walk you through how to check RERA-registered projects in Bangalore.
What is RERA?
The Real Estate Regulatory Authority (RERA) was set up in 2016 under the Regulation and Development Act to bring positive changes to the real estate sector in India. It aims to make buying and selling property more transparent, fair, and well-regulated, ensuring better buyer protection and smoother processes for everyone involved. The key objectives of RERA include:
• Transparency: RERA requires developers to provide clear information about their projects, including approvals, layouts, and timelines. This helps buyers avoid confusion and make informed decisions when investing in RERA-registered projects.
• Accountability: Developers are held responsible for any delays or issues. This ensures buyer’s investments in real estate projects are safe.
• Buyer Protection: RERA ensures homebuyers and investors get full legal protection, reducing risks and giving them peace of mind while purchasing plots in Bangalore.
Understanding RERA Registration in Bangalore
In Bangalore, RERA Registration is governed by Karnataka RERA (K-RERA). This body was established in 2017 to bring greater transparency and accountability to the real estate sector in the state. The goal of K-RERA is to regulate and promote the real estate market while protecting the interests of homebuyers and investors. It ensures that all property dealings in Bangalore, whether they are residential or commercial, are conducted fairly.
This means that when you invest in RERA-registered projects in Bangalore, you can be confident that your investment is safeguarded, and you’ll receive your property as promised. For added peace of mind, RERA-registered projects in Bangalore allow buyers to lodge complaints with K-RERA if developers or agents do not adhere to regulations, ensuring fair dealings throughout the process.
Types of Projects That Must Be Registered Under RERA
• Residential projects larger than 500 square metres.
• Projects with more than 8 apartments.
• Plotting projects
• Ongoing projects that have not received a completion certificate.
• Commercial projects like offices and shops.
Steps to Check RERA-registered Projects In Bangalore in 2024
1. Visit the Karnataka RERA Website
Begin by accessing the official Karnataka RERA website (https://rera.karnataka.gov.in/). This portal is the primary platform for all RERA-related information for the state, including project registrations, agent registrations, and complaint resolution.
2. Click on the ‘Services’ Tab
On the homepage, find the ‘Services’ tab in the menu. This tab contains a drop-down menu with various options related to RERA services. From the drop-down menu, select ‘Project Status’. This option directs you to the page where you can search for details on registered projects.
3. Select Search Criteria
You will now see a search page where you can filter projects based on criteria such as:
• Project Name: Enter the name if you know the specific project.
• Promoter’s Name: Enter the developer or builder’s name associated with the project.
• Project Location: Choose a specific locality or area in Bangalore for a more targeted search.
Choose one or more of these criteria to narrow down the search results.
4. Enter Information and Search
After selecting the search criteria, input the necessary details and click on the ‘Search’ button. The page will display a list of projects that match your search inputs.
5. Review the Project Details
Click on a specific project name to view comprehensive details, such as:
• Project Registration Number and Project Status (whether ongoing, completed, etc.).
• Approvals: Information on approved plans, layouts, and other clearances.
• Promoter Details: The builder or developer’s name, contact information, and past project history.
• Project Features: Specifications such as the total area, number of units, amenities, etc.
6. Download or Print the Project Information
If you need a hard copy or want to save the details for future reference, you can download or print the project information. The Karnataka RERA website typically provides options to save the project details in PDF format.
Steps to Check RERA Registered Real Estate Agents
1. Visit the Karnataka RERA Website
Go to https://rera.karnataka.gov.in/, the official RERA portal for Karnataka.
2. Navigate to the “Services” Tab
On the homepage, click on the “Services” tab. From the drop-down menu, select “Agent Status”. This will take you to the agent search page.
3. Search for the Agent
Enter the agent’s name or registration number in the search field and click “Search”.
4. Verify Registration Details
Review the agent’s registration status, validity, and other details to ensure their registration is active and compliant with RERA.
5. Check for Complaints or Disciplinary Actions
Look out for any complaints or warnings related to the agent for better insight into their professionalism.
6. Request the Registration Certificate
For extra verification, ask the agent to show their RERA certificate and ensure the details align with the online information.
Working with RERA-registered agents ensures that you are dealing with professionals who comply with the regulatory standards. Registered agents are more likely to provide accurate information and follow ethical practices, making your investment safer.
Benefits of Buying RERA Registered Projects
• Enhanced Transparency: RERA projects are clear about timelines, costs, and approvals, giving you full project details.
• Prompt Project Delivery: RERA ensures developers stick to schedules, so you’re less likely to face delays.
• Structural Defect Liability: Builders must fix any structural issues for five years, ensuring a quality home.
• Mandatory Consent for Changes: Developers need your approval before making changes, to protect your investment.
• Right to Information: You can access detailed project information, making it easier to make informed choices about RERA-registered projects in Bangalore.
NBR Group’s RERA-Approved Projects
At NBR Group, we are committed to RERA compliance. We provide buyers with secure and transparent investment options. Here are some of our top RERA-registered projects offering plots in Bangalore:
• NBR Trifecta in Sarjapur: Located in one of Bangalore’s most desirable areas, NBR Trifecta offers plots in Sarjapur ideal for residential development.
• NBR Hills View near Nandi Hills: Nestled close to the serene Nandi Hills, NBR Hills View offers plots that provide a peaceful retreat from city life, perfect for nature lovers.
• NBR Green Valley on Hosur-Bagalur Road: For those seeking plots in Bagalur, NBR Green Valley offers well-connected residential plots that balance cost-effectiveness with excellent amenities.
The bottom line is that investing in RERA-registered projects in Bangalore is a smart choice for ensuring the safety and reliability of your investment. Always verify the RERA registration number and details before making a decision. At NBR Group, we are committed to providing high-quality, affordable housing and commercial spaces that are fully compliant with RERA standards.
Contact us today to learn more and schedule a site visit to explore our premier plots in Bangalore!