The Karnataka Real Estate Regulatory Authority (K-RERA) has issued a landmark order directing a real estate developer to transfer common assets, maintenance funds, and related responsibilities to the residents’ association. The decision reinforces the rights of homebuyers and promotes greater accountability among builders.
The ruling is expected to improve transparency and governance in Karnataka’s real estate sector by ensuring timely handover of common facilities to residents. Industry experts believe the order will enhance consumer confidence, encourage regulatory compliance, and establish stronger standards for protecting homebuyers’ interests across the state.
