HomeUrban NewsBangaloreBengaluru Flat Owners Cry Foul Over Property Rights

Bengaluru Flat Owners Cry Foul Over Property Rights

Bengaluru’s flat owners are demanding urgent legal reforms to protect their property rights amidst mounting uncertainty regarding title, ownership, and maintenance of group-housing residential properties. Associations representing flat owners have raised concerns about builders exploiting loopholes in existing laws to retain control over undivided land, allowing them to mortgage the land, construct additional structures, and claim compensation during property acquisitions.

The Bangalore Apartments Federation (BAF) has appealed to Deputy Chief Minister DK Shivakumar, urging the government to expedite legal reforms. “There are significant gaps in the Karnataka Apartment Ownership Act (KAOA), 1972, that need to be fixed,” said BAF President Vikram Rai. “We had represented the problem to the government last year, but the committee to address this issue hasn’t been formed yet.” Legal experts and flat owners’ associations have long criticized the existing laws, arguing that they benefit certain lobbies at the expense of homeowners.

The current legal framework in Karnataka comprises the KAOA, 1972; the Karnataka Ownership Flats (Regulation of the Promotion of Construction, Sale, Management, and Transfer) Act (KOFRA), 1972; and the Real Estate (Regulation and Development) Act (RERA), 2016. The call for legal reforms highlights the urgent need for a comprehensive and clear legislative framework to safeguard property rights and ensure fair practices in the real estate sector. The state government’s response to these demands will be crucial in addressing the ongoing challenges faced by flat owners and ensuring transparency and accountability in property transactions.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -spot_img

Most Popular

Recent Comments

Lemon Tree Hotels Expands Into Kasauli and Bhubaneswar

Lemon Tree Hotels Expands Into Kasauli and Bhubaneswar

India’s hospitality network is expanding beyond established metropolitan markets as Lemon Tree Hotels adds two properties in Bhubaneswar and Kasauli. The planned hotels, with...
Mumbai Luxury Housing Records Fresh Juhu Benchmark

Mumbai Luxury Housing Records Fresh Juhu Benchmark

A sea-facing apartment in Juhu has changed hands for ₹106.52 crore, adding another nine-figure transaction to Mumbai’s ultra-luxury residential market. Registered on July 31,...
Signature Global Advances Gurugram Housing Construction

Signature Global Advances Gurugram Housing Construction

Signature Global has awarded construction contracts worth ₹920 crore for its Sarvam at DXP Estate residential project in Sector 37D, moving the 1,798-home development...
Shapoorji Pallonji Expands Residential Push In Noida

Shapoorji Pallonji Expands Residential Push In Noida

Noida is becoming a stronger marketplace for buyers evaluating homes beyond their immediate city, as a multi-city property showcase brings 15 residential projects from...
Pune commercial tower signals Balewadi office growth

Pune commercial tower signals Balewadi office growth

Pune’s western office corridor is set for another sizeable addition after a ₹520-crore credit facility was arranged for a commercial tower in Balewadi. The...