Buyers in Bangalore have not received compensation since cancellation

Read Time:2 Minute, 2 Second

In Bangalore, after the home buyers faced years of court harassment, abandoned their dream homes and canceled their booking. Regardless of the regulation under the Karnataka State Regulation and Development Act, yet compensation has not been received.

Bangalore present, 2710 complaints have been lodged under the law.

An IT specialist had booked two BHKs for 68 hours in 2014 and one had to cancel due to possession delay. He said that the builder promised to hand over an apartment in Thanasandra within three years. “After several hearings, the appellate court ordered the principal to pay within a month.” Four months later, the appellant paid me, but I did not pay the penalty for an additional three months, which he paid. Eventually, he got the second apartment occupied in May 2019. But they claim that the building has paid only Rs 1 in the form of compensation for the delay. They said, “basic amenities such as water and electricity are not provided properly.”

Another homebuyer also canceled his house in Henry. We had booked it in February 2015 after promised to give it in February 2015. “But the project was moving fast, and whenever we see some progress, we will pay the next amount.” By August 2016, we paid Rs.15 crore out of 1.25 crore rupees. Due to delays, we decided to withdraw money and asked to recover the amount paid. ‘It was ruled that the promoter should recover the total amount by 10.5 percent until May 2017. “We sent the refund request back in December 2018 and then it was sent to the District Collector’s office … we just wanted our money.

Secretary of the Forum of People’s Collective Attempts, M. O Shankar, the challenge is to do justice on paper only. “The law provides that the promoter should provide compensation within 60 days of the decision, but there is no value for the timetable in question.”

Secretary of KRERA Srinivas said that RERA is in constant touch with revenue officials to speed up the recovery process. “So far, 122 cases have been referred to the duties of the concerned commissioners for the recovery of the amount of compensation as arrears of land revenue specified in the Rare Act,” he said. In 185 cases, home buyers pulled their complaints after a favorable settlement.
Read Also: – The housing segment is expected to promote the real estate sector

Like our Facebook page: – News In Headlines