Tag: Real Estate Regulation and Development Act

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Bangalore Development Body Promotes: Karnataka REAT

BENGALURU: The BDA must adhere to all regulations outlined in the Real Estate (Regulation and Development) Act, including project registration, as it is classified as a promoter when developing layouts and selling plots. This observation was made by the Karnataka Real Estate Appellate Tribunal in its March 3 ruling, which upheld K-Rera’s directive regarding the Nadaprabhu Kempegowda Layout (NPKL). However, BDA officials have indicated to TOI that they plan to challenge the tribunal’s decision in the high court. The case originated from a K-Rera order dated November 7, 2025, following complaints by allottees of the NPKL project. K-Rera addressed these…

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Odisha REAT Upholds Penalty on Promoter for Uncertified Flats

BHUBANESWAR: The Odisha Real Estate Appellate Tribunal (OREAT) has dismissed an appeal from a local promoter and upheld the Rs 3 lakh penalty for delivering flats in the Gadakana housing project without the necessary occupancy certificate (OC) and failing to secure registration from the Odisha Real Estate Regulatory Authority (ORERA). This ruling was issued on March 6. The tribunal affirmed ORERA’s March 4, 2024, directive, which penalized the promoter for breaching Section 3(1) of the Real Estate (Regulation and Development) Act, 2016, which stipulates that all eligible projects must be registered before any sales or promotions occur. The tribunal also…

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States face CJI backlash over appointing retirees to RERA

BHUBANESWAR: Chief Justice of India Surya Kant delivered a stern critique to states regarding the performance of the Real Estate Regulatory Authorities (RERAs), stating that many have turned into “rehabilitation centres for retirees” rather than serving to protect homebuyers. The CJI urged states to “revisit and rethink the very purpose of constituting the RERA,” pointing out the disillusionment among those whom these institutions were intended to help. “The truth is that none of them are receiving any substantial relief,” he remarked, highlighting the need for immediate reforms. In Odisha, the Real Estate Regulatory Authority is entirely staffed by retired officials,…

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Odisha RERA Updates Quarterly Report Formats for Agents

BHUBANESWAR: To bolster accountability and improve transparency in the real estate sector, the Odisha Real Estate Regulatory Authority (ORERA) has mandated a new format for quarterly progress reports (QPRs) from registered agents, in accordance with the Real Estate (Regulation and Development) Act, 2016. This initiative comes after an audit by the Directorate of Audit, Indirect Taxes and Customs, which highlighted significant non-compliance and insufficient data in quarterly submissions by agents. Starting from the quarter ending December 2025, agents will be required to provide detailed, transaction-level information. According to the ORERA directive, “The DG Audit, Indirect Taxes and Customs, Govt of…

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Karnataka: 10 Builders Owe ₹347 Crore in Penalties

Even years after the implementation of the Real Estate Regulation and Development Act (RERA), many major builders in Karnataka are disregarding recovery orders from the Karnataka Real Estate Regulatory Authority (K-RERA). Consequently, homebuyers with favorable rulings find themselves struggling for justice through courts and bureaucratic channels. When RERA was launched, there was hope that victims of real estate fraud would quickly receive justice. Unfortunately, that hope has largely gone unfulfilled. A striking example is the fact that ten major builders owe a collective ₹347 crore in penalties, yet have not made any payments. Recent information acquired through an RTI query…