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

India Aluminium Sector Faces Raw Material Challenge

India Aluminium Sector Faces Raw Material Challenge

India’s smaller aluminium manufacturers are facing mounting financial pressure as rising raw material costs continue to erode competitiveness, prompting industry bodies to seek policy...
NMDC Steel Governance Move Supports Growth Plans

NMDC Steel Governance Move Supports Growth Plans

NMDC Steel has announced a key leadership change in its corporate governance structure with the appointment of a new Company Secretary and Compliance Officer,...
Tata Steel Earnings Reflect Infrastructure Momentum

Tata Steel Earnings Reflect Infrastructure Momentum

India’s expanding infrastructure pipeline helped Tata Steel Q1 Results reflect stronger domestic operational resilience during the first quarter of FY27, even as international operations...
Shree Cement Earnings Signal Cement Sector Challenges

Shree Cement Earnings Signal Cement Sector Challenges

Shree Cement has reported a weaker financial performance for the opening quarter of FY27, with standalone net profit declining year on year despite continued...
Shree Cement Board Meets On Quarterly Performance

Shree Cement Board Meets On Quarterly Performance

Shree Cement’s board is scheduled to meet on Q1 FY27 results this week, with investors closely watching the company’s financial performance amid evolving cement...