BENGALURU: The Karnataka Real Estate Regulatory Authority (K-RERA) court has recommended to the Registrar of Co-operative Society and their subordinate offices to take steps to register an association of a residential project at Karkala Town in Udupi district under the Co-operative Societies Act. The Registrar had rejected an initiative made by the allottees to do so earlier.
The project in question is Samruddhi Hills developed by Strecon Builders and Developers. The court gave its order on January 30 when hearing a petition by 14 complainants seeking interest amount for delay in completion of their housing project and requesting for its completion.
The apartments were supposed to be handed over by April 2016 to the buyers, but has not been done yet with no hope of its completion in the near future. The RERA had earlier orally asked the allottees to come together and form an association so that it mobilises resources from all buyers and complete the stalled project. However, it has been learnt that the jurisdictional Registrar of Co-operative Society has not accepted the application submitted by Samruddhi Hills for registration, said a RERA source.
K-RERA Chairman Kishore S Chandra told TNIE, “It is in the interests of allottees that such a society is formed so that they can takeover the project. Hence, we have recommended to the Registrar of Co-operative Society and their subordinate offices take steps to accept the application of the association formed by Samruddhi Hills. Only a society registered as a co-operative society is empowered to take over a project.” Section 32 of the RERA Act empowers the authority to make such recommendation.
The RERA order also urged the registrar not to insist on occupancy certificate, minimum membership of at least 200 and share capital not less than Rs 4 lakh among other conditions as mandatory for registration. “These conditions are contrary to the provisions of the Act. If the registration is denied on the grounds contrary to the Act, it will jeopardise the rights of the allottees,” the order said. Such delays will cripple the allottees from getting redressal of their grievances, it added.