Karnataka RERA issues a circular on extension of project and compliant hearing

Apr 23, 2020 | by Avantis RegTech Legal Research Team

Industry Specific Compliance

The Karnataka Real Estate Regulatory Authority (Karnataka RERA) on April 04, 2020, revises the timeline for registered projects and extends the timeline for statutory compliance and compliant hearing due to sudden outbreak of COVID-19 pandemic. The Government has enforced lockdown in the entire country and ensured that completion of Karnataka RERA registered projects does not get adversely affected. 

Under the provisions of the Karnataka Real Estate (Regulation and Development) Act and Rules, the Authority have to take into consideration reasons and circumstances that influence the duration for completion of projects while granting registration or extension. The Authority is also required to ensure compliance of the obligations cast upon the promoters, the allottees and real estate agents.

Therefore, in order to aid government efforts, it is decided that:  

 An extension of the validity period of registration by 3 months is provided to all KRERA Registered projects where the completion date, revised completion date or extended completion date expires on or after March 15, 2020. KRERA shall accordingly issue project registration certificates, with revised timelines for such projects, at the earliest.

 Further the time limits of all statutory compliance in accordance with the Real Estate (Regulation and Development) Act, 2016 and the rules and regulations made thereunder, which were due in March / April / May are extended to June 30, 2020.

 All complaint cases listed for hearing upto April 14, 2020 are adjourned except urgent cases to avoid gathering. The date of hearing will be posted on the website of the Authority after the situation is handled. 

[Circular No. KRera No. Sec.CR.04/2019-20]


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