The Karnataka Real Estate Regulatory Authority (Karnataka RERA) on May 17, 2024, notified the Circular regarding submission of Quarterly updates for the project extended under Section 7.
The following has been stated-
•Promoters of all the real estate projects, registered with this Authority, are required to enter all details of their respective real estate projects as provided under section 4(2), in all the fields as provided on their respective web page on the website of this Authority, for public viewing, including such details as required under section 11 of the Real Estate Regulation and Development Act, 2016 and rule 15(D) of the Karnataka Real Estate Regulation and Development Rules, 2017, within Fifteen days from the expiry of each quarter.
•A user manual has also been made available on the website of this Authority at https://rera.karnataka.gov.hepostRegLuinPake to facilitate the promoters to submit quarterly updates on their projects, which contains step-by-step instructions to fill the Post Registration and Quarterly Update details of the project.
•It is observed that promoters of some of the registered real estate projects have submitted physical copies in respect of quarterly updates of their projects while seeking approval from this Authority to permit the registration period of the real estate project to remain in force under section 7(3) of the Real Estate Regulation and Development Act, 2016.
•Promoters of all the real estate projects, registered with this Authority, who have submitted physical copies till March 30, 2024, in respect of quarterly updates of their projects while seeking approval of this Authority to permit the registration period of the real estate project to remain in force under section 7(3) of the Act, need not update the details on their respective web-page on the website of this Authority. However, concerning other Promoters, it is mandatory to enter all details of their respective real estate projects as provided under section 4(2), including such details as required under section 11 of the Real Estate Regulation and Development Act, 2016 and rule 15(D) of the Karnataka Real Estate Regulation and Development Rules, 2017, within Fifteen days from the expiry of each quarter.
•It is also mandatory that with effect from April 01, 2024, quarterly updates in respect of all registered real estate projects shall be entered on their respective web pages on the website of this Authority.
[Notification No. K-RERAI299/QU/2024]
