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

Raipur Adds Fresh Hotel Capacity As Economy Expands

Raipur Adds Fresh Hotel Capacity As Economy Expands

Raipur is set to add a new 151-room hotel as Indian Hotels Company Limited (IHCL) signs a greenfield Gateway project in the Chhattisgarh capital....
JSW Karnataka Investment Plan Targets New Growth

JSW Karnataka Investment Plan Targets New Growth

Karnataka is set to see a major industrial investment push, with the JSW Group planning to deploy about ₹1.20 lakh crore across the state...
Amaravati RBI Facilities Push Capital City Development

Amaravati RBI Facilities Push Capital City Development

A ₹780 crore construction contract for Reserve Bank of India facilities is set to add another institutional anchor to Amaravati, covering office infrastructure and...
NITI Aayog Links Land Reform To Industrial Growth

NITI Aayog Links Land Reform To Industrial Growth

India’s ability to attract larger industrial investments could depend partly on how quickly states make land acquisition and development more predictable, according to a...
Aerocity Draws Fresh Flexible Office Investment

Aerocity Draws Fresh Flexible Office Investment

Delhi’s Aerocity is attracting another large flexible-workspace commitment, with Smartworks taking about 1.41 lakh sq ft at 4 Worldmark, a commercial development by Bharti...