India, Feb. 20 -- The Real Estate (Regulation and Development) Act, 2016 (RERA), is primarily designed to safeguard homebuyers' interests and promote transparency in the real estate sector. Although RERA is often associated with residential real estate projects, it also applies to commercial real estate projects under specific conditions, legal experts say.

Recently, Karnataka RERA directed a developer to refund Rs.57 lakh to a buyer after failing to complete and hand over a commercial project. Queries have been sent to the developer. The story will be updated once a response is received.

The unregistered project, PVR Pinnacle, developed by Vikram Structures and located in North Bengaluru's Hebbal, was originally scheduled for completio...