Karnataka Authority asks Home Buyers to take over the project

Karnataka Real Estate Regulatory Authority asks home buyers to take over the project.

It has also authorized the society.

To sell the unsold flats to mobilize funds to complete the project work.

The builder sold 45 3-BHK flats for prices ranging between Rs 1.5 crore and Rs 2 crore.

Later, the builder conveyed his inability to complete the work, citing financial problems.

The RERA registration for it ended on March 30, 2021.

Work on most of the amenities, including the promised club house, did not start.

While some buyers paid 80% of the project cost, a few paid the full amount.

The buyers approached RERA in 2021.

After 22 hearings in one-and-a-half years

The authority ruled in our favor.