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Karnataka Regulatory Authority Says Builders Must Present Proof Of Water Supply
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Highlights
- The Karnataka Real Estate Regulatory Authority recently launched a major endeavour to protect the interests of property buyers.
- The Bangalore Water Supply and Sewerage Board or the Panchayat office, if the property is under their jurisdiction. They will not be providing the certificate unless they possess confirmation of it.
The Karnataka Real Estate Regulatory Authority (K-RERA) recently launched a major endeavour to protect the interests of property buyers. Unless the builder gets competent to demonstrate the source of water supply for his buyers will he be granted RERA certification, which is required for all real estate developments in the state.
K-RERA Chairman HC Kishore Chandra stated that they subsequently declared it essential for the buyer to present a No Objection Certificate from either the Bangalore Water Supply and Sewerage Board or the Panchayat office, if the property is under their jurisdiction. They will not be providing the certificate unless they possess confirmation of it.
The Water Board issues this certificate only once the builder has paid the initial deposit to the authorities. He continued that previously, the builder would offer them assurances on water supply arrangements, but now they merely require documentation at the time of application.
According to an official, if the region does not receive water from the BWSSB or the panchayat, the builder must provide assurances that tankers would be delivered for them at their own expense in the future. Two other important attempts to protect buyers are in the works. One has to do with site visits.
Despite the fact that engineers had already completed the task, the three-member RERA committee, which included the Chairman and two members, D Vishnuvardhan Reddy and Neelamani Raju, paid a visit to the site. Another key step that will be implemented soon is the update of the RERA portal so that all information about the builder will be published, allowing buyers to make an informed decision before to the sale.
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