Civic Failures Amplify Bengaluru Homebuyers Agony
Bengaluru’s real estate sector has been marred by troubling revelations, with the Ozone Group topping the Real Estate Regulatory Authority’s (RERA) defaulters list. The group, facing 201 cases filed by homebuyers, owes ₹178.83 crore in compensation. Among the most affected are buyers of Ozone Urbana, a massive residential project in Devanahalli, where over 65 flats were allegedly double sold. The project, initially promised for delivery in 2018, remains partially complete, leaving buyers grappling with mounting financial and emotional distress.
Flat owners like Bipul Bhattacharya, who invested ₹87 lakh in 2017, have been left disillusioned. “Only 55% of the construction is done, and work stopped in 2018. The builder even acknowledged the resale of 65 units in an email,” he lamented. Other buyers face equally grim scenarios, with payments fully made for properties that were resold without consent. Some have been offered alternative flats, but the lack of occupancy certificates, electricity, and water connections has made habitation a challenge for nearly 200 residents. Such civic lapses underline the systemic gaps in urban planning and accountability in Bengaluru’s housing sector.
The sustainability angle brings another dimension to the crisis. Stalled projects like Ozone Urbana reflect not only financial mismanagement but also environmental neglect. Incomplete housing complexes often result in wasted materials, disrupted ecosystems, and unutilised land resources. Sustainable real estate practices necessitate accountability from developers, ensuring timely project completion and efficient resource utilisation. By integrating sustainability into regulatory policies, authorities can mitigate future risks and prioritise eco-conscious urban development.
Civic inaction compounds the woes of Ozone Urbana buyers. Despite a tahsildar’s order in December 2024 to recover ₹109.98 crore from the builder, no tangible action has followed. Buyers, paying EMIs for undelivered homes, are further burdened by legal battles and uncertainty. Ozone Group’s official statement claims proactive measures to secure project financing and potential investors. Yet, the lack of a RERA extension and delays in obtaining funding underscore the challenges buyers face. The need for systemic reform to protect citizens from such predicaments has never been more urgent.
This ongoing saga serves as a stark reminder of the importance of ethical practices and strong oversight in real estate. Sustainable development, coupled with civic responsibility, can pave the way for a more transparent and equitable housing market in Bengaluru and beyond.
