RERA verdict fines builder, puts smile on buyers’ faces

BENGALURU: A recent order by the court of the Real Estate Regulatory Authority-Karnataka (RERA-K) ordering a builder to register its property under RERA within 60 days and the penal charges imposed on it has brought relief for many homebuyers. The order by the Court against the Platinum City project on HMT Road, near Peenya Metro station, was made public on December 2 though the verdict was delivered on November 6. This marks the first project for which RERA has issued show cause notice for non-registration as well as asked the builder to pay 10% of the project cost as penalty.Read More...