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

Delhi Elite Enclave Eyes Landmark Transaction

Delhi Elite Enclave Eyes Landmark Transaction

0
A potential ₹1,000 crore transaction in Lutyens Delhi is moving through advanced due diligence, signalling one of the largest private residential deals ever contemplated...
Mumbai Worli Luxury Project Announced

Mumbai Worli Luxury Project Announced

0
Mumbai’s premium real estate market is set for a new branded hospitality-led development in Worli after Oberoi Realty entered into a partnership with Switzerland-based...
India Fractional Luxury Homes Hit 500 Crore

India Fractional Luxury Homes Hit 500 Crore

0
Per Annum’s luxury housing investment platform has crossed ₹500 crore in assets under management within a year of launch, signalling growing investor appetite for...
Mumbai Managed Office Demand Drives Smartworks Lease

Mumbai Managed Office Demand Drives Smartworks Lease

0
Mumbai’s flexible workspace market has gained fresh momentum with Smartworks securing 1.82 lakh square feet in Andheri East, pushing its total footprint in the...
Mumbai BMC Expands Slum Redevelopment Push

Mumbai BMC Expands Slum Redevelopment Push

0
Mumbai’s civic administration has initiated a fresh round of slum redevelopment by inviting developers to participate in 26 informal housing clusters across the city,...