Furnish details on unpaid compensation by builders: RERA to home buyers

Highlights

• With criticism mounting against Karnataka Real Estate Regulatory Authority (K-RERA) over poor adherence by builders to the orders issued by it on compensation to home buyers, it has now asked buyers to individually furnish details to it on the issue. The home buyers have also been asked to submit the interest amount to be paid by the builder on account of delay.

•  Of a total of nearly Rs 268 crore ordered by RERA to be paid as compensation, promoters have paid the buyers just Rs 16 crore  as on July 10. An e-mail sent by RERA legal team to buyers reads thus, “You are hereby directed to furnish information whether the respondent complied with the order dated xxxx (depending on specific order date) passed by the Adjudicating Officer. If not, furnish the updated memo of calculation as per order to till date.”

• Confirming the communication, K-RERA Chairman H C Kishore Chandra told TNIE, “The details sent by the home buyers will be shared by us to the deputy commissioner or the tahsildar, whoever is responsible in the specific area, to pursue it and get the compensation along with the revised interest amount spelt out by the buyer.” The aggrieved buyer, therefore, stands to get better justice when the complete interest amount is being sought.

• Though RERA is not responsible for the execution part of the order, it gets brickbats often on this count. “Its website reveals that its verdicts have been honoured by promoters in just 48 cases out of 664 cases it has handled. MS Shankar, general secretary, Forum for People’s Collective Efforts, which is working for rights of buyers across India, said,

• “This is a good reaction from K-RERA following the review we submitted to them on completion of five years of the implementation of the RERA Act. This is a positive step from buyers point of view.”