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Homebuyers, Centre Push Karnataka to Empower K-RERA with Recovery Powers
Dated on: Thursday 5th December 2024The Union Ministry of Housing and Urban Affairs has urged states, including Karnataka, to adopt a more robust recovery mechanism for the Real Estate Regulatory Authority (RERA), similar to the Gujarat model. This suggestion comes as recovery orders from the Karnataka RERA (K-RERA) have faced significant implementation challenges, leaving numerous homebuyers unable to secure compensation despite favorable rulings.As of now, over ?700 crore in recovery orders remain largely unfulfilled due to lack of enforcement powers for K-RERA. Homebuyers and the central government have been advocating for giving RERA direct authority to enforce these orders, bypassing the need to rely on the state revenue department, which often leads to delays. This has left many buyers in projects like Ozone Urbana in Bengaluru stranded, unable to claim refunds or possession of their homes despite years of legal battles?
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