2,630+ Real Estate Projects Delay in Karnataka! Bengaluru alone accounts 1,301 Projects

In Karnataka, more than 2,630 real estate projects have fallen behind schedule, and many more are experiencing protracted delays. With 1,301 projects, Bengaluru alone is responsible for more than half of Karnataka's postponed projects. Additionally, data from the Karnataka Real Estate Regulatory Authority (KRERA) shows that 1,007 projects have already asked for an extension and are presently awaiting permission.

As per the data available on the KRERA website, "The public is hereby informed that the project registration period for the following projects has expired and has yet to be renewed. The public is hereby warned that dealing with these projects would be at their own risk”.

Sudhakar Lakshman, one of the buyers said, "Despite multiple complaints, Karnataka RERA and government bodies remain ineffective. Digital South Trust, a non-profit organisation, has already urged PM Narendra Modi to intervene, demanding strict legal action, financial penalties, and real-time project monitoring to protect homebuyers from further exploitation”.

In response to this, Brigade Group's spokesperson said that “The occupancy certificates for both Feldspar and Krypton projects were issued on March 1, 2024, by the concerned authority. Updating OC to RERA is just a procedural aspect, which is also linked to the registration of conveyance deeds to end customers. Because of the new requirement of e-Swathu, all sale deed registrations are pending. That is being attended to now.”