The real estate sector in Karnataka was hit hard when RERA was first imposed, and this was at a different time for different states.
As a result, even Mysore real estate took the shock but the sector itself bounced back stronger even despite the onset of COVID-19 pandemic. But today, real estate in India is well regulated because of RERA, a law that also provides buyer protection for investors of RERA registered projects in Mysore.
Given all the benefits that RERA registered projects in Mysore come with, for the present as well as the future, always look for such properties while considering a real estate investment. These properties are legally secure.
In Karnataka and thus Mysore. RERA was enforced in 2017 and all existing projects and future projects were mandated t register on RERA. Toady, not just developers but also promoters and agents can only work with a property after it is registered to join the list of RERA registered projects in Mysore. owning RERA registered properties ensures that the property is completely legitimate.
The official website of RERA Karnataka has made it very simple for buyers to verify RERA-registered properties online using the registration number provided by the builder/developer/seller. They can also easily check for every other detail regarding the RERA registered property including the project’s progress. All properties that are larger than 500 sq. m. are mandated to be in compliance with RERA and registered under RERA.
On the RERA portal of Karnataka, you will be able to easily find everything that you are looking for regarding any property in Mysore that has been registered under RERA or has been applied for registration. According to the official website of RERA Karnataka, as of 2022, the number of projects registered is approximately 5800 while the number of agents registered is around 3000. Among these, many are RERA registered projects in Mysore.
Registration of project, agent, complaint, transfer of rights of a property, etc. can be found under the ‘Registration’ tab on the home page. Basically, if the entered number shows up the results of a project, that means that the project has been registered under RERA. All details regarding project registration through application can be quickly found here, such as applications under process, applications approved, applications rejected, and more.
Status of a project, agent (registration), complaint, online payment, project extension, etc. can be found under the ‘Services’ tab on the home page. Project documents can also be checked from under the same tab.
RERA imposes certain rules for projects to be compliant with it, such as developers having to use a specific formula to calculate the carpet area of a project. Buyer protection is high with benefits like being able to complain against the developer if quality issues are found in the project, up to 5 years after the property is completed. All details regarding complaints, such as the details of complaint realization, can be found under the ‘Complaints’ tab on the home page.
RERA registered projects in Mysore can give you full legal power and protection on your property. Issues that buyers faced from property developers that used to take years to resolve can now be resolved much more quickly in RERA authorities that are dedicated to solve such cases.
GSS Projects is a renowned real estate consultant that can help you to securely invest in RERA registered projects in Mysore. Clients from all over India have helped us grow by trusting in us and we have given them all the reasons to. Contact us to get expert real estate consultancy services.