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

Asian Paints Growth Push Meets Cost Pressure

Asian Paints Growth Push Meets Cost Pressure

India’s largest paint manufacturer is targeting stronger sales volumes in the coming financial year, even as escalating raw material costs and intensifying market competition...
Uttar Pradesh Paint Demand Drives Regional Expansion

Uttar Pradesh Paint Demand Drives Regional Expansion

As Uttar Pradesh witnesses a new cycle of industrial growth, housing construction and infrastructure investment, the state is increasingly emerging as a strategic market...
Andhra Pradesh Links Steel Growth To Skills

Andhra Pradesh Links Steel Growth To Skills

India’s vocational training ecosystem has moved into a new phase of industry participation after a strategic investment proposal linked to the Visakhapatnam industrial...
Nagarnar Steel Plant Nears Capacity Milestone

Nagarnar Steel Plant Nears Capacity Milestone

NMDC Steel Ltd has reported its first full year of profitability since commissioning its integrated steel operations at Nagarnar in Chhattisgarh, marking a significant...
Maharashtra Project Targets Industrial Carbon Reuse

Maharashtra Project Targets Industrial Carbon Reuse

India’s push to decarbonise heavy industry has gained momentum with a proposed green methanol venture that seeks to convert steel sector emissions into cleaner...