Karnataka Affairs
The number of real estate brokers in the state could run into several thousands.Yet, almost five years afterReal Estate Regulation and Development Act, 2016 was enforced, only about 2,787 such agents have registered underKarnataka Real Estate Regulatory Authority(K-RERA).
The Act not only makes it compulsory for agents to register, but also binds them to deal with onlyRERA-registered properties.
The reasons for poor registration range from lack of awareness about the mandatory requirement to the fear of being held accountable. But one of the major reasons why many leading brokers are not coming forward, according to some realtors, is because of an unscientific licensing system.