Builders will need RERA permanent Number to be mentioned for marketing/sale

RERA Provisional Registration Number is Invalid: Need Permanent (Approved) Number from 1/4/2018 for Marketing/Sale

RERA-K has issued Notice which is on their website which says RERA approved project registration number is required since few builders are marketing against application acknowledgment number which is invalid and false, this will further safeguard the interests of property buyers in the State under the Karnataka Real Estate Regulatory Authority (RERA).

The press note mentions,

This is to notify to the public that all the ongoing and new projects shall be registered compulsorily under section 3 of RERA Act and all the agents shall register their names and names of the companies/firms as per this notification.

Until now a temporary provisional registration no. PR/KN/Applied date no…… & AG/KN /Applied date no… were given when applied for registration. It has come to our notice that the developers and agents are doing their business by projecting the provisional registration number.

In this backdrop, it is specifically notified to the customers that from 01.04.2018 on-wards the developers/agents who applies for the registration, until and unless they obtain the permanent registration number, shall neither advertise nor enter into agreement or should not receive more than 10% of the advance amount regarding their projects. If they are doing so, it would be a violation of section 3.

It is to bring to the notice of all the developers/agents and customers that no one should transact upon the temporary registration number.

After submitting application before the authority and after scrutiny, the authority shall give the registration number as PRM/KA/RERA/Dist/Taluk/AG/Approved Date/No…… and PRM/KA/ RERA/Dist/Taluk/PR/Approved Date/No….. to the developers/agents. Only after the confirmation of the number, the public should transact.

CREDAI Belagavi have been actively pushing Builders to register and RERA. All the CREDAI Members have complied but until the customer is aware and asks the builder for the Rera number things will not change.