With new SOP and software, revenue recovery in RERA cases expected to pick up pace
RERA-Karnataka is implementing a new Standard Operating Procedure and dedicated software to improve the enforcement of revenue recovery orders. These measures aim to address the long-standing issue of low recovery rates for homebuyers by empowering the authority to act like a civil court.
Why it matters
This initiative seeks to restore consumer confidence in the real estate sector by ensuring that legal orders against builders are actually enforced.
Lax enforcement of revenue recovery orders issued by Real Estate Regulatory Authority - Karnataka (RERA-K) — only around 10% of the value of the Revenue Recovery Certificates (RRCs) have been recovered till date — has been a long-standing problem aired by homebuyers. A host of measures, including a Standard Operating Procedure (SOP) which empowers RERA-K to implement its orders, a dedicated officer and a software being developed to implement RRCs in Bengaluru, is expected to lead to better implementation of these orders.
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