Bengaluru: Nearly three months after the center notified the ambitious Real Estate (Regulation and Development) Act, 2016 (RERA), the Karnataka government has approved the new rules under the act on Wednesday. But, the new rules have led to rampant criticism with state government allegedly budging to builders lobby.
One of the highlights of the new rules is they have exempted ongoing projects. According to the decision taken in the cabinet, those project where the sale deed has already been executed or if 60 percent of the project work has been completed will not come under the ambit of RERA rules in the state. As per these rules, even the BDA’s Nadaprabhu Kempegowda Layout will not come under the ambit of RERA.
According to Vivek Kumar, who is the part of the movement launched in the Bengaluru demanding immediate implementation of the act , exemptions will allow the real estate developers to continue the exploitation. “In Bengaluru, most of the developers execute the sales deed even before the launching the project. Hundreds of buyers are cheated by these types of developers. Thousands of cases are pending. Due to this exemption clause they can avoid all kinds of legal action,” he said.
But according to TB Jayachandra, state law minister, new rules are akin to the rules framed by BJP-ruled Gujarat and Rajasthan states.
