K-RERA flooded with thousands of complaints from home buyers

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BENGALURU: The Real Estate Regulatory Authority (RERA) has been flooded with complaints about builders who have cheated home buyers out of their hard-earned money.

The RERA is a independent body to monitor the real estate sector and adjudicate disputes related to real estate projects. It also aims to protect home buyers from real estate scams and ensure transparency in any transaction with the real estate industry.

According to RERA, builders who have taken money from their clients must complete construction within a stipulated time. Clients can file complaints with RERA regarding their concerns if there is any delay in handing over possession of the property. The regulatory body recently came out with a list of real estate firms that have cheated their customers.

Company                                             Complaints                                                   Recovery Ordered

1. Ithaca Estate Pvt Ltd                                      46                                                               Rs 1,32,64,91,313
2. GM Infinite Dwelling Pvt Ltd                       44                                                               Rs 11,07,56,741
3. Unishire Housing LLP                                   41                                                                Rs 15,26,01,314
4. Skylark Mansion Pvt Ltd                               39                                                               Rs 12,42,77,005
5. Mantri Technology Constellations              37                                                                Rs 13,53,44,410
6. Mantri Developers Pvt Ltd                           26                                                                Rs 20,92,23,949
7. Nitesh Housing Developers Pvt Ltd            36                                                               Rs 39,60,58,888
8. Sanchaya Land Estate Pvt Ltd                      27                                                               Rs 4,69,71,975
9. ARV Infrastructures –                                     16                                                               Rs 3,88,37,090
10. Sai Ashirvad Builders & Developers/
Ashirwaad Builders and Developers –              16                                                              Rs 11,20,000

RERA secretary Ibrahim Maigur said they had received thousands of complaints from prospective home buyers . “We are collecting information about builders by registering one case at a time. Currently, we have got information about these 10 builders and developers. We will notify the related companies and ask them to repay their customers. Many companies have agreed to return the money or hand over the property to their customers”, he said.

RERA secretary Ibrahim Maigur.

Ibrahim also mentioned that according to RERA rules, all the companies mentioned had been given a 60-day notice to pay back the home buyers in case they fail to deliver possession of the property. “Over 6,000 complaints were registered with us and we have issued orders in over 3,500 cases. In 683 cases, recovery is yet to be made. The builders will have to pay up within 60 days from the order. If the firms do not, then, as per provisions of the RERA Act, we can initiate action against the promoters and developers under the Land Revenue Act. In 84 cases, recoveries of Rs 26 crore have been made while abut Rs 245 crore remains to be recovered”, he added.

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