Karnataka: 10 builders yet to pay ₹347 crore in penalties
Even years after the enactment of the Real Estate Regulation and Development Act (RERA), major builders in Karnataka are ignoring recovery orders issued by the Karnataka Real Estate Regulatory Authority (K-RERA). As a result, aggrieved homebuyers, despite having orders in their favour, are left chasing justice through courts and government offices. When RERA was introduced, there was optimism that victims of real estate fraud would receive swift relief. However, that promise has remained largely unfulfilled. A glaring example is the fact that just 10 major builders collectively owe Rs.347 crore in penalties to homebuyers but have yet to pay up.…