K-RERA Introduces Single-Window Clearance for Real Estate Projects in Mysuru

Mysuru: Karnataka Real Estate Regulatory Authority (K-RERA) chairman Rakesh Singh has announced the authority's plans to introduce a single-window clearance system for real estate projects. This initiative aims to streamline the process of obtaining various permissions required from different government agencies, making it more efficient and developer-friendly.

Singh explained that once a developer or promoter registers with K-RERA and ensures full compliance, the authority will take on the responsibility of liaising with the relevant departments to secure timely approvals. He emphasized that if any agency fails to clear a proposal within the stipulated period, the approval should be treated as deemed approved.

This move is expected to significantly reduce the bureaucratic hurdles and delays that developers often face, thereby accelerating the development process. Singh assured stakeholders that K-RERA will incorporate their inputs and make necessary corrections to the system. He also clarified that the RERA Act does not currently provide for third-party inspections, and K-RERA lacks the power to de-register sale agreements, a function reserved for civil courts. However, efforts are underway to secure these powers for K-RERA.

K-RERA secretary HR Shivakumar highlighted the importance of the real estate sector, noting that it supports around 200 ancillary businesses. This underscores the sector's significant economic impact and the need for a streamlined regulatory framework.

District Commissioner G Lakshmikantha Reddy acknowledged the challenges faced by the Mysuru real estate sector over the past 1.5 years, particularly due to issues with Muda khatas. However, he noted that the situation has stabilized since the transfer of Muda khatas to Urban Local Bodies (ULBs), and e-khata issues have been resolved.

The introduction of the single-window clearance system is seen as a positive step towards fostering a more conducive environment for real estate development in Mysuru and across Karnataka. It is expected to boost investor confidence and contribute to the overall growth of the sector.

In conclusion, the K-RERA's initiative to implement a single-window clearance system is a significant move that addresses the pain points faced by developers and stakeholders. By reducing bureaucratic hurdles and ensuring timely approvals, this system aims to make the real estate sector more efficient and attractive for investment.