Real Estate Regulatory Authority closely monitors sale of flats and villas



The Real Estate Regulatory Authority (RERA) is stepping up action to avoid exploitation in the construction sector. Advertising and sale of flats and villas not registered with the Authority will no longer be allowed. A warning notice was issued stating that fines of up to 10 per cent of the construction cost of such projects would be levied. See list of ongoing projects https://rera.kerala.gov.in/rera_project_details

The Real Estate Regulatory Authority, which oversees real estate projects, came into existence in the state on January 1 last year. The condition is that all projects currently under construction and without a certificate of ownership must be registered with the RERA.

Accurately certify the original plans approved, the amount received from the customer, the time of completion of construction and the time of delivery to the owner. If the building is not completed on time, the company must pay a penalty of up to 9% for each month of delay.

In the context of Covid19, the registration period has been extended twice. RERA has ordered that projects that are not registered after December 31, 2021 will be fined up to 10 per cent of the construction cost.

RERA'S web portal will be fully operational by the end of this month. Progress of registered construction activities will be available on the website. Consumers can approach RERA. It is estimated that real estate companies can ensure the reliability of plans and consumers can ensure that they are not deceived.

File your complaint about Kerala real estate fraud activities here 

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