Karnataka RERA Orders Builder to Transfer Assets for Homebuyers
BENGALURU: The Karnataka Real Estate Regulatory Authority (K-RERA) has mandated a builder to transfer the khata of the land, BESCOM meters, water meters, corpus fund, the balance of the escrow account, and maintenance accounts to the authorized association of allottees within 90 days of its order. The order came following a petition from Yoganandan Jagannathan, a flat owner, against Smart Value Homes (Peenya Project) Private Limited and Tata Value Homes Ltd. K-RERA instructed the respondents to restore power supply to the complainant’s apartment and ensure completion of the promised amenities as per the agreements. Jagannathan claimed the promoter had assured…