Landowners Share Liability with Builders for Incomplete Projects: Kerala-RERA
KOCHI: In a significant ruling, the Kerala Real Estate Regulatory Authority (K-RERA) has determined that landowners cannot avoid accountability if a housing project fails, assuming they were involved in its financing or profit-sharing. They will be regarded as “joint promoters” and held jointly accountable with the builder to fulfill the promise of delivering homes. The case centers around a housing development by Nest Realties on land owned by Marickar Plantations, where homebuyers booked apartments between 2011 and 2022, paying nearly 95% of the total price. However, after accepting their payments, the builder left the project incomplete, failing to provide essential…