BENGALURU: A Cooke Town couple, who had entered into an agreement of sale to buy a flat, were stranded after the apartment work never took off as the National Green Tribunal (NGT) revoked its environmental clearance. Though they were refunded Rs 51.4 lakh advance they had paid, they were denied interest. The...
BENGALURU: The members of the Karnataka Home Buyers Forum have been running from pillar to post, urging the Real Estate Regulatory Authority (RERA) Karnataka to issue guidelines on the completion of housing projects, similar to those implemented by RERA in neighbouring states. They complain that many builders have...
BENGALURU: The Karnataka Real Estate Regulatory Authority (K-Rera), set up to safeguard homebuyer interests, has failed to recover Rs 666 crore — or 88% — of the Rs 758 crore it had ordered builders to pay their customers under the head of refund for incomplete/delayed projects, among other things.As on Dec 31,...
Representative image The Karnataka Real Estate Regulatory Authority (K-RERA) has managed to recover only `91 crore of the `758.85 crore penalties imposed on 278 builders for violating regulations, leaving `666 crore still outstanding. According to K-RERA’s latest report, as of December 31, 2024, the authority has...
Rpresentative imageThe Real Estate Regulatory Authority’s (RERA) failure to recover the penalty imposed on defaulting builders has become a cause of concern among the home buyers in the state. Latest reports show that an alarming amount of arrears owed by builders to homebuyers remains uncollected. Despite...
Representative image BENGALURU: A petition against a service provider before Karnataka Real Estate Regulatory Authority (K-Rera) is not maintainable, the high court observed recently.It made this observation while allowing a petition filed by M/s Columbia Pacific Communities Pvt Ltd. Bengaluru. The petitioner,...
Representative image BENGALURU: It's a double whammy for Sudhakar Lakshmanaraja, 37, having to pay both rent and interest on loans for the past six years for a flat he had purchased in 2018 -- thanks to the delayed project.While Lakshmanaraja and the other apartment buyers at the project in Thanisandra were...
Representative image Despite the Real Estate (Regulation and Development) Act (RERA) being in force in Karnataka for over seven and a half years, concerns about its ineffective implementation are growing louder by the day. Sources said that this situation is highlighting the ineffectiveness of K-RERA in Karnataka....
BENGALURU: A day after the high court has passed an interim order, restraining Naveen Raj Singh, principal secretary of the department of housing, from officiating as acting chairperson of the Karnataka Real Estate Regulatory Authority (K-RERA) with immediate effect, the state govt Thursday appointed Rakesh Singh,...