Bengaluru: The State Cabinet on Wednesday cleared the much awaited Karnataka Real Estate (Regulations and Development) Rules 2016, passed by Parliament last year.
However, Law and Parliamentary Affairs Minister Mr T.B. Jayachandra said that there would be clarity over the rules framed in the Karnataka version of RERA only after the government issues the notification.
Meanwhile, the Cabinet also admitted that there was a monsoon deficit and cleared the proposal for cloud seeding at a cost of Rs 30 crore.
Speaking to reporters after the cabinet meeting, Mr Jayachandra said that RERA, which will protect the interests of the common people in real estate deals, was cleared by the state cabinet too. The State had made its own rules, where it would regulate cost of projects as well as set new guidelines for developing properties.
With respect to ongoing projects, those projects, which are already complete to the extent of 60% and sale deeds have been executed would be kept out of the purview of the new rules. Besides, the project cost would be calculated as per guidance value of the area.
However, when asked which would be the implementing authority and how the government would enforce the rules, Mr Jayachandra said that clarity on many issues like this would come only after the notification was issued.
Cloud Seeding: The cabinet cleared a proposal for cloud seeding at a cost of Rs 30 crore. Mr Jayachandra said two companies - M/s Hoysala Projects Private Limited and M/s Cathy Climate Modification had participated in the tender. At the end, the RDPR department shortlisted M/s Hosyala Projects Private Limited company, he said.
The cabinet is also planning to distribute flavoured milk among kids in government and aided schools under Ksheera Bhagya scheme.
