Tag: Karnataka RERA

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Karnataka Homebuyers Urge Action on Property Delays

BENGALURU: The Karnataka Home Buyers Forum has presented a memorandum to Chief Secretary Shalini Rajneesh, urging the state government to address long-standing issues that impact countless homeowners, particularly concerning ownership rights and regulatory gaps. “We want to highlight that homebuyers in Karnataka face significant challenges in asserting their ownership rights,” reads the memorandum. The forum detailed key obstacles and proposed solutions for the Chief Secretary’s consideration, advocating for the interests of millions affected. One major issue raised is the Bruhat Bengaluru Mahanagara Palike’s (BBMP) failure to update khata mutation records for apartment owners. Despite having registered their flats, many owners…

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2,600+ Karnataka Real Estate Projects Expired: RERA Data

BENGALURU: The Karnataka Real Estate Authority (K-Rera) has commenced an investigation into various residential projects that have failed to meet their completion deadlines and have not submitted timely progress reports. According to K-Rera’s recent data, over 2,600 real estate projects are officially labeled as ‘expired’, while more than 2,700 are categorized as ‘lapsed’. Under RERA guidelines, a project is deemed expired when its registration period ends without the builder applying for an extension. It is classified as lapsed if it remains incomplete without a renewal request, invalidating the registration and potentially exposing the builder to penalties and regulatory actions. Out…

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Karnataka: 10 Builders Owe ₹347 Crore in Penalties

Even years after the implementation of the Real Estate Regulation and Development Act (RERA), many major builders in Karnataka are disregarding recovery orders from the Karnataka Real Estate Regulatory Authority (K-RERA). Consequently, homebuyers with favorable rulings find themselves struggling for justice through courts and bureaucratic channels. When RERA was launched, there was hope that victims of real estate fraud would quickly receive justice. Unfortunately, that hope has largely gone unfulfilled. A striking example is the fact that ten major builders owe a collective ₹347 crore in penalties, yet have not made any payments. Recent information acquired through an RTI query…