Homebuyers in Karnataka are facing difficulties due to the delay in enacting the new Karnataka Apartment Ownership Act. The proposed legislation aims to streamline the formation of resident associations and the transfer of common areas from developers to these associations. However, the delay is causing frustration and uncertainty for apartment owners.

Challenges Faced by Homebuyers:

• Difficulties in Forming Associations: Many developers are not fulfilling their responsibility to facilitate the formation of resident associations, leaving buyers without a collective voice or legal entity to manage their properties.

• Transfer of Common Areas: The transfer of common areas, such as parking spaces and recreational facilities, from developers to resident associations is often delayed or hindered, creating disputes and hindering proper maintenance.

• Lack of Clear Guidelines: The absence of clear guidelines and time-bound action from authorities like RERA is adding to the confusion and leaving homebuyers vulnerable.

Homebuyers Seek Government Intervention:

Homebuyers are demanding that the Karnataka government expedite the enactment of the new Act and establish a dedicated department to oversee the registration of resident associations and the transfer of common areas.

RERA's Response:

The Real Estate Regulatory Authority (RERA) has stated that it will consider issuing guidelines on the registration of associations only after the new Act comes into effect. This response has further frustrated homebuyers who seek immediate solutions to their concerns.

Conclusion:

The delay in enacting the Karnataka Apartment Ownership Act is causing significant challenges for homebuyers. The lack of clear guidelines and the reluctance of some developers to fulfill their obligations are creating hurdles in forming resident associations and managing common areas. The government's intervention is crucial to expedite the enactment of the new Act and ensure the protection of homebuyer rights.

-source: realty.economictimes.indiatimes.com