Tag: Karnataka Real Estate Regulatory Authority (K-RERA)

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Karnataka RERA nets ₹1.5 crore from builders for violations

BENGALURU: The Karnataka Real Estate Regulatory Authority (K-Rera) has collected ₹1.5 crore in penalties from builders for failing to timely submit their mandatory quarterly progress and annual audit reports between April 1 and July 9, 2026. This initiative aims to enforce compliance and enhance transparency for homebuyers. This recovery follows a circular issued by K-Rera on July 2, emphasizing its compliance measures and stating that recovery actions against non-compliant promoters would commence on July 16. The circular builds on previous warnings dated January 20, February 7, February 20, and June 19, which outlined penalties for late quarterly filings. Officials indicated…

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Karnataka RERA’s Bid for Financial Autonomy Hits Govt Wall

BENGALURU: Karnataka’s real estate regulatory authority is not lacking in funds; however, it is losing control over its financial resources. The Karnataka Real Estate Regulatory Authority (K-Rera) generates steady income from project registrations, agent fees, penalties, and various charges. However, its autonomy in fund allocation has diminished, with the state government assuming control over the dedicated regulatory corpus. The K-Rera Regulatory Fund was established by the Real Estate (Regulation and Development) Act of 2016 to ensure the authority’s financial independence. This fund was intended to allow K-Rera to independently manage its operations, including hiring personnel and processing complaints. However, this…