BENGALURU: Rakesh Singh, chairman of the Karnataka Real Estate Regulatory Authority (K-RERA), has warned citizens not to allow promoters to deceive them when purchasing real estate. He emphasized that they should not tolerate subpar services and can reach out to his organization for assistance in case of issues.
Singh highlighted the significance of the Real Estate (Regulation and Development) Act, 2016, stating that it marked a pivotal change in India’s property landscape by providing buyers with a legal framework to safeguard their interests. He made these remarks at the RWA Excellence Seminar organized by Nemmadi.in in Bengaluru on Saturday, which focused on legal compliance, property well-being, and sustainable management practices.
According to Singh, the real estate regulator has transformed homebuyers’ rights, allowing them to demand accountability from developers. This includes ensuring transparency, timely possession, refunds, defect-free properties, and comprehensive documentation. He advised that after the handover to resident welfare associations (RWAs), communities should establish committees, conduct professional audits, and insist on complete financial and legal transfers to mitigate future liabilities.
Singh urged citizens, as customers of builders or promoters, to contact the estate regulator if they feel that the commitments outlined in their contracts have not been fulfilled after payment. “RERA has an established mechanism and dedicated teams to verify complaints,” he noted.
He further emphasized, “Before making a commitment, you are entitled to know every detail about a project, including layout plans, government approvals, land ownership status, and expected timelines. Any reluctance from a developer to provide this information should raise immediate concerns.”
