Homebuyers in projects delayed by up to four years in Bengaluru are waiting for their money to be recovered by the state under the orders of the Karnataka RERA. Experts say they have identified the critical problem and are advising the government on faster recoveries.
A homebuyer’s complaint has been in appeal for three years when the relevant act mandates that the RERA tribunal should dispose of appeals within 60 days of the complaint
In the wake of the pandemic, experts say that the residential real estate sector saw renewed demand from institutional investors, despite economic global headwinds. The pandemic became a game changer to shift homebuyers sentiments towards the Indian housing sector.