Karnataka RERA, just a paper tiger: Home buyers
The Karnataka Real Estate Regulatory Authority (K-RERA), established to protect homebuyers and regulate the real estate sector, is now being criticised for its lack of enforcement, raising concerns about whether it has become a “toothless tiger.” K-RERA data reveals that of the 1,660 recovery orders issued involving `758.85 crore, only 233 cases have seen action, resulting in a recovery of `91.88 crore. A staggering 1,427 cases, amounting to `666.97 crore, remain pending, with little to no enforcement action taken against the defaulting builders. Eight years after the implementation of the Real Estate (Regulation and Development) Act in Karnataka, homebuyers who…