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

UK Devine Chemicals Expands With New Facility Move

UK Devine Chemicals Expands With New Facility Move

0
UK-based specialty chemicals manufacturer Devine Chemicals has relocated to a significantly larger facility in County Durham, marking a strategic expansion aimed at scaling production,...
India Paint Sector Faces Demand Slowdown Pressure

India Paint Sector Faces Demand Slowdown Pressure

0
India’s paint industry is entering a phase of pricing adjustments amid weak consumption trends, with companies such as Asian Paints, Berger Paints, Kansai Nerolac...
Global Markets See Concrete Machines Growth Surge

Global Markets See Concrete Machines Growth Surge

0
A sustained wave of infrastructure expansion across emerging and developed economies is set to drive long-term growth in the global concrete block making machines...
Meghalaya Sees Shree Cement Plant Expansion Push

Meghalaya Sees Shree Cement Plant Expansion Push

0
A ₹1,800 crore industrial investment by Shree Cement in Meghalaya is set to reshape the region’s construction ecosystem, with a new integrated cement facility...
India Star Cement ESG Rating Signals Sustainability Push

India Star Cement ESG Rating Signals Sustainability Push

0
India’s cement sector is seeing a gradual shift towards sustainability-linked benchmarking, with Star Cement receiving an ESG score that signals growing scrutiny of environmental...