The Karnataka Real estate (Regulation and Development) Act, (KRERA) recently has given judgment with regard to compensation to homebuyers who faced harassment of court hearings and thus has cancelled their bookings of dream homes.
With regard to this 2,710 has been filed with KRERA. It was stated by an IT professional that he booked two 2 BHK flats in 2014 for 68 lakhs but later cancelled their bookings due to delay in possession which was promised to be delivered by 2017 in Thanisandra. He further added that court ordered builders to pay back the principal amount but he hasn’t received the same. Later after four months builder paid him but didn’t pay full amount after taking into consideration extra three months. He got possession in May 2019 but has paid only Rs.1 Lakh as delayed compensation. And also basic amenities such as water and electricity were not provided.
One other homebuyer cancelled her booking in Hennur which was booked in January 2015 and was promised to be delivered by February 2016. She stated that the construction process was very slow and hence as a result of same she will not be paying next demanded installment until the construction progresses. Till August 2019, they had paid Rs.1.25 crore out of total amount Rs. 1.37 crore. And now she has decided to refund the same. KRERA has passed a judgment that the builder should refund the total amount with 10.5 per cent interest, effective May 2017. She added that a request for money recovery was sent in December 2018 which was later forwarded to District collector’s office and homebuyers only wants their money back.
M S Shankar, secretary of forum for People’s Collective Efforts stated it is challenge for KRERA because the judgment is only on paper and not executed yet. In judgment it is stated that builders have to pay compensation before 60 days but no action to execute the same has been taken.
K Srinivas, secretary , KRERA stated that they are in constant contact with revenue department and 122 cases have been referred to Deputy Commissioner for recovery of compensation amount as arrears of Land revenue, provided in the RERA act.
Almost in 185 cases settlement has lead to withdrawal of complaints. This was done by meetings with the Assistant Commissioner and tahsildars of Bengaluru urban District. He further added, after meetings tahsildars issued property attachment notices for 44 cases and appointment of one more adjudicating officer will be done so that recovery process will become easy.
Courtesy/By: Renu Kathale
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01 Jul 2019
