A recent ruling by the Karnataka Real Estate Regulatory Authority (K-RERA) has mandated the Bangalore Development Authority (BDA) to compensate a senior citizen for a significant delay in site handover. The order raises critical questions about regulatory compliance and resident welfare in the Arkavathy Layout.
- BDA ordered to pay Rs 12,43,792 for delay
- Arkavathy Layout still lacks essential amenities
K-RERA’s Decision: A Step Towards Accountability
The Karnataka Real Estate Regulatory Authority (K-RERA) has taken a definitive step to hold the Bangalore Development Authority (BDA) accountable by ordering a compensation of Rs 12,43,792 to Suthanthiraraj, a retired chartered accountant from Vidyaranyapura. This ruling comes as a result of his prolonged struggle to access a site he purchased in 2006 within the Arkavathy Layout. Despite paying Rs 7,5,100, the sale deed was not officially registered until 2017. K-RERA’s Chairman Rakesh Singh and Member G Ravindranadha Reddy emphasized the need for timely property transactions, stating, “Delays like these undermine public trust in real estate governance.” The ruling aims to rectify the injustices faced by homeowners while highlighting the necessity for regulatory adherence.
Arkavathy Layout: Ongoing Challenges for Residents
Despite the recent ruling, the Arkavathy Layout remains plagued by issues that affect many residents, including Suthanthiraraj. The area is currently grappling with a severe lack of basic amenities, such as water and electricity supply. Poorly maintained roads further exacerbate the situation. Residents have voiced their frustrations, pointing out that the BDA’s negligence has left them in a state of uncertainty regarding their living conditions. As Suthanthiraraj noted, “The layout was supposed to be a dream home, but it has turned into a nightmare with no proper facilities.” The BDA’s failure to comply with a K-RERA directive issued in November 2023 to register the layout under RERA highlights a systemic issue in the regulatory framework.
Future Implications for Real Estate Development
The recent developments in the Arkavathy Layout signify a pivotal moment for real estate governance in Karnataka. With K-RERA’s increasing involvement, there is hope for improved accountability among development authorities. However, the ongoing issues in the Arkavathy Layout raise concerns about the long-term implications for potential buyers in the region. Experts suggest that if these challenges are not addressed promptly, they could deter future investments in Bengaluru’s real estate market. As Rakesh Singh stated, “The future of real estate in Karnataka depends on our ability to ensure compliance and protect the rights of buyers.”
