From permitting buyers to take over possession of common areas to completing delayed projects: Top Karnataka RERA orders
In 2024, several Karnataka RERA orders, such as permitting homebuyers to take over common areas of a project to allow them to complete one that had been delayed for almost a decade, impacted the city's real estate landscape and homebuyers in general.
1) Karnataka RERA directed a developer to hand over possession of common areas to the homebuyers' association in south Bengaluru.
In this case, the project, Mahendra Aarna, located in Anekal, was completed by developer Mahendra Homes Pvt Ltd after obtaining the occupancy certificate. However, in its May 16 order, KRERA noted that the developer should give possession of the common facilities to the association of allottees as per RERA.
The authority pointed out that, under section 17 of the RERA Act, the developer is required to transfer actual possession of the common facilities and other titles to the association of the allottees within three months of receiving the OC.
Read more at : https://www.hindustantimes.com/real-estate/from-permitting-buyers-to-take-over-possession-of-common-areas-to-completing-delayed-projects-top-karnataka-rera-orders-101734679764863.html
Credit by: https://www.hindustantimes.com/
From permitting buyers to take over possession of common areas to completing delayed projects: Top Karnataka RERA orders
In 2024, several Karnataka RERA orders, such as permitting homebuyers to take over common areas of a project to allow them to complete one that had been delayed for almost a decade, impacted the city's real estate landscape and homebuyers in general.
1) Karnataka RERA directed a developer to hand over possession of common areas to the homebuyers' association in south Bengaluru.
In this case, the project, Mahendra Aarna, located in Anekal, was completed by developer Mahendra Homes Pvt Ltd after obtaining the occupancy certificate. However, in its May 16 order, KRERA noted that the developer should give possession of the common facilities to the association of allottees as per RERA.
The authority pointed out that, under section 17 of the RERA Act, the developer is required to transfer actual possession of the common facilities and other titles to the association of the allottees within three months of receiving the OC.
Read more at : https://www.hindustantimes.com/real-estate/from-permitting-buyers-to-take-over-possession-of-common-areas-to-completing-delayed-projects-top-karnataka-rera-orders-101734679764863.html
Credit by: https://www.hindustantimes.com/