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06 Jul 2017

The Karnataka Government has finally passed the Real Estate Regulation Act here on Wednesday the 5th of July, 2017; an Act described as customer-centric which aims to protect homebuyers and encourage genuine private players in the fast-growing sector. The state cabinet passed the bill on Wednesday evening—though with a few changes—ending months of uncertainty that led several people to question if the Siddaramaiah-led Congress government was divesting the state of conceivable aids of RERA.

The Karnataka Government has stated that delays caused in the implementation of the RERA were on account of prolonged discussions and confusion. A gazette notification is still impending and is to be issued within the next 3-4 days.

Few of the...