{"id":2170,"date":"2026-06-17T12:49:01","date_gmt":"2026-06-17T07:19:01","guid":{"rendered":"https:\/\/www.nobroker.in\/news\/?p=2170"},"modified":"2026-06-17T12:49:02","modified_gmt":"2026-06-17T07:19:02","slug":"karnataka-rera-directs-builder-to-transfer-project-assets-within-90-days","status":"publish","type":"post","link":"https:\/\/www.nobroker.in\/news\/karnataka\/karnataka-rera-directs-builder-to-transfer-project-assets-within-90-days\/","title":{"rendered":"Karnataka RERA Directs Builder To Transfer Project Assets Within 90 Days"},"content":{"rendered":"

The Karnataka Real Estate Regulatory Authority (K-RERA) directed a builder to transfer the project assets to the authorized homebuyers association within 90 days from the date of its order.<\/span><\/p>\n

The case being, Yoganandhan Jagannathan, one of the flat owners, filed against the Smart Value Homes Private Limited (Peenya Project) and Tata Value Homes Ltd. The complaint highlighted that despite collecting deposits, the developers failed to install the necessary infrastructure, separate pipelines, as there are only two pipelines, one for borewell water supply and another for the supply of treated water, and they have not installed overhead tanks for storing the Cauvery water for the Cauvery Water supply to all flats in the complex.<\/span><\/p>\n

The complaint reads, \u201cHowever, they have collected the deposits for the supply of Cauvery water to all the flats and did not do any base work. However, they should refund the amount of \u20b914,895 collected as a deposit towards the Cauvery water connection and supply to the flat with interest at 18% per year from October 18, 2017.\u201d<\/span><\/p>\n

While the builders told K-RERA that the residents’ association for the project had been registered under both the Karnataka Apartment Ownership Act, 1972. Further, they have already taken over the maintenance, and those individual utility disputes did not involve them.\u00a0<\/span><\/p>\n

The reply from respondents reads, \u201cThe association has taken over the maintenance and facilities management of the project. We do not have any role in the management of the project, except for paying the maintenance charges for the unsold flats. The dispute raised by the complainant in relation to the disconnection of the generator service is between the association and the complainant, and it does not relate to us.\u201d<\/span><\/p>\n

Hearing it, K-RERA directed builders to hand over the land\u2019s Khata, BESCOM meters, water meters, corpus fund, balance of escrow account, and render accounts regarding maintenance to the authorized association of allottees formed under the laws applicable within 90 days from the date of its order.<\/span><\/p>\n

Sourced from ET Realty<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The Karnataka Real Estate Regulatory Authority (K-RERA) directed a builder to transfer the project assets to the authorized homebuyers association within 90 days from the date of its order. The case being, Yoganandhan Jagannathan, one of the flat owners, filed against the Smart Value Homes Private Limited (Peenya Project) and Tata Value Homes Ltd. The […]<\/p>\n","protected":false},"author":6,"featured_media":2171,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"no","_lmt_disable":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-2170","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-karnataka"],"yoast_head":"\nKarnataka RERA Directs Builder To Transfer Project Assets Within 90 Days<\/title>\n<meta name=\"description\" content=\"K-RERA directed a builder to transfer the project assets to the authorized homebuyers association. 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