The Karnataka government is actively seeking a new chairperson for the Karnataka Real Estate Regulatory Authority (K-RERA) following the retirement of HC Kishore Chandra in May 2024. Homebuyer associations, representing thousands, are urging the government to prioritise candidates with real estate expertise, citing past appointments of non-specialists, such as retired police officers, as a hindrance to K-RERA's effectiveness. The associations have highlighted significant issues, including a backlog of over 5,000 pending cases and inadequate enforcement of orders. This situation highlights the urgent need for a knowledgeable leader to streamline operations and protect home buyer interests.
The Karnataka government is searching for a new chairperson for the Karnataka Real Estate Regulatory Authority (K-RERA). This follows the retirement of HC Kishore Chandra, a former Director General of Police, who previously held the position. Chandra, who served for one term, retired in May 2024 at the age of 65.
Homebuyer associations in Karnataka, representing thousands of individuals, are urging the government to prioritise real estate expertise in their selection process. They are concerned that past appointments of individuals lacking real estate knowledge have hindered K-RERA's effectiveness.
Specifically, some homebuyers expressed dissatisfaction with the appointment of retired police officers to lead K-RERA. They believe these appointments, while acknowledging valuable leadership skills, don't directly address the specific challenges faced by homebuyers navigating the real estate market. Section 22 of the RERA Act outlines the eligibility criteria for the chairperson position, requiring at least 20 years of professional experience in relevant fields like urban development, housing, or real estate law.
Homebuyer associations have also highlighted concerns with a backlog of pending cases and a lack of enforcement action against builders who violate regulations. As of June 2024, estimates suggest over 5,000 cases related to delayed projects, unfinished amenities, and undelivered flats are pending before K-RERA. Homebuyers also report instances where K-RERA orders against builders haven't been effectively enforced. These issues suggest a need for a strong leader at K-RERA who can streamline case resolution, ensure adherence to regulations, and protect home buyer interests.
Homebuyers are hopeful that the government will appoint a knowledgeable and experienced RERA chairperson who can effectively implement the RERA Act. This includes addressing issues like timely complaint resolution (current average case resolution time in Karnataka is around 24 months), order execution, and providing clear directions on Apartment Allottees Association registration and Common Area Transfer, as mandated by Section 17 of the RERA Act (passed in 2017 but implementation details remain unclear in some areas).
The search for a new K-RERA chairperson presents an opportunity for the government to prioritise homebuyer protection. Appointing someone with a deep understanding of real estate regulations, enforcement procedures, and the specific challenges faced by homebuyers will be crucial. This, in turn, could have a positive impact on the overall health of the state's real estate market by building trust and confidence among potential buyers, potentially leading to a more stable and transparent market environment.
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