Homebuyers in Bengaluru against dilution of real estate rules

By: | Updated: December 1, 2018 5:24 PM

A large number of homebuyers, allegedly cheated by builders, staged a protest here Saturday against the dilution of Real Estate Regulatory Authority (RERA) by the Karnataka government.

real estate sector, real estate industryIn the memorandum, the forum said many apartment projects were built on encroached upon lakes, stormwater drains, and government land.

A large number of homebuyers, allegedly cheated by builders, staged a protest here Saturday against the dilution of Real Estate Regulatory Authority (RERA) by the Karnataka government.

The protesters, under the banner of Fight for RERA and Forum for People’s Collective Efforts (FPCE), said the government has watered down certain provisions of the Act, which, the protestors said, were detrimental to the homebuyers.

“Implement and enforce RERA in letter and spirit,” said secretary of the forum M S Shankarm who demanded speedy disposal of the complaints, under the RERA Act and Rules, and increase the number of adjudicating officers.

Shankar said the Karnataka government had diluted the important section of 3 which protects the interest of the homebuyers awaiting possession of purchased or invested homes which have not received the occupancy certificate or the completion certificate from the competent agencies.

The buyers have paid 70% – 100% of the payment, but the construction has not even reached 50%, he said.

In the memorandum, the forum said many apartment projects were built on encroached upon lakes, stormwater drains, and government land.

Also read: Evolving investment patterns in real estate

In all such projects there were allegedly mischievous manipulations of land records, the association said adding that innocent purchasers of such apartments face the threat of demolition.

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