Karnataka RERA penalises developers who fail to register projects

The developer Ozone Urbana Infra Developer, with offices in Bengaluru, has been ordered by the Karnataka Real Estate Regulation and Development Authority (KRERA) to register the Urbana Serene project in the Devanahalli taluk under Section 3 of the Real Estate (Regulation and Development) Act, 2016. After obtaining the interim order, which was issued on September 22, the realtor has been given two weeks to register the project, which is intended to be a senior living complex. Following a complaint from the Urbana Serene Apartment Owners Welfare Association that the developer was inappropriately collecting money prior to finalising the purchase agreement, this action has been taken. Also read: Birla Estates acquires 10 acre land in Bengaluru for housing project NAREDCO Maharashtra set to host India's first real estate property Expo