- Projects
Excelsa
Kadri Hills, Mangalore
City
Pumpwell, Mangalore
Attalea
Lighthouse Hill Road, Mangalore
West Valley
Bondel, Mangalore
Barrio
Balmatta Road, Mangalore
Greenfield Meadows
Behind NITK, Surathkal
Kadri Hills, Mangalore
Pumpwell, Mangalore
Lighthouse Hill Road, Mangalore
Bondel, Mangalore
Balmatta Road, Mangalore
Behind NITK, Surathkal
Mandatory Project Registration: Builders and developers must register their projects with K-RERA before advertising or selling any units. This ensures that only approved projects reach buyers, reducing the risk of investing in unauthorized or fraudulent projects.
Transparency: K-RERA mandates developers to provide detailed information about projects, including layout plans, approvals, timelines, and financial details. This transparency empowers buyers to make informed decisions.
Standardized Documentation: The authority standardizes the sale agreement and ensures that it includes all necessary clauses, protecting the interests of both buyers and developers.
Timely Project Delivery: K-RERA holds developers accountable for project completion within the stipulated timelines, reducing delays and ensuring timely
possession to buyers.
Escrow Account Utilization: Developers are required to deposit a certain percentage of the project’s funds into a dedicated escrow account. This measure prevents the diversion of funds and ensures that resources are used for the specific project.
Karnataka RERA offers several protections to homebuyers:
Advance Payments: Buyers are protected from paying excessive amounts as advance before the project registration or without proper documentation.
Information Access: Detailed project information, such as approvals, timelines, and financial details, must be provided by developers, ensuring transparency.
Legal Recourse: Homebuyers have the right to approach the regulatory authority for grievances or disputes with developers, promoting swift conflict
resolution.
RERA Registration Number: Before investing, ensure that the project is registered under Karnataka RERA. The registration number and details are typically displayed in project advertisements and brochures.
Agreement Clauses: Carefully review the sale agreement to ensure that it complies with K-RERA norms and safeguards your interests as a buyer.
Project Delays and Track Record: Research the developer’s track record regarding project deliveries to assess their reliability in completing projects within stipulated timelines.
Karnataka RERA plays a pivotal role in ensuring transparency, accountability, and protection for homebuyers. It empowers buyers by providing them with
comprehensive information, standardizing processes, and offering a platform for dispute resolution. Before investing in real estate in Karnataka, it’s crucial for homebuyers to acquaint themselves with Karnataka RERA’s guidelines and use them as a safeguard while making property-related decisions. Remember, being well-informed is the key to making a secure and wise investment in the ever- evolving real estate market of Karnataka.
NorthernSky Properties, has built a solid reputation for Trust and Quality over the last 18 years, with a unique, customer-oriented approach to our clients.