Kerala RERA Lets Flat Owners Take Over Under-Construction Units
KOCHI: In a groundbreaking ruling, the Kerala Real Estate Regulatory Authority (K-RERA) has permitted a flat allottees association to assume control of an under-construction apartment complex from its developer. K-RERA exercised its special authority under the Real Estate Regulation and Development Act, 2016, to facilitate the takeover of the nine-storey apartment complex located in Angamaly. The registered association, MIR CINTRA, approached K-RERA after the promoter, MIR Builders and Developers Pvt Ltd, failed to deliver the flats to the allottees. The association highlighted that despite collecting ₹15.06 crore from them, the developer had not even completed the structural work of the…