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

Andhra Pradesh Steel Plant Reshapes Industrial Growth

Andhra Pradesh Steel Plant Reshapes Industrial Growth

0
A large-scale integrated steel facility is set to take shape in Andhra Pradesh, signalling one of India’s most significant industrial investments in recent years....
Thane Real Estate Firm Targets National Footprint

Thane Real Estate Firm Targets National Footprint

0
A Thane-headquartered real estate developer is stepping beyond its core markets in the Mumbai Metropolitan Region, signalling a broader shift in how mid-sized firms...
ArisInfra India Merger Reshapes Construction Ecosystem

ArisInfra India Merger Reshapes Construction Ecosystem

0
A proposed internal consolidation within ArisInfra Solutions Limited is set to redraw operational structures in India’s construction ecosystem, as the company moves to integrate...
Bengaluru Leads India Office Leasing Growth This Quarter

Bengaluru Leads India Office Leasing Growth This Quarter

0
India’s commercial real estate sector opened the year on a firm footing, with office leasing activity accelerating across its largest urban centres. Seven key...
Chennai Prime Property Market Attracts Tech Wealth

Chennai Prime Property Market Attracts Tech Wealth

0
A high-value residential transaction in Chennai’s Abhiramapuram locality has brought renewed attention to the city’s evolving luxury housing segment, where large-format homes and premium...