The Karnataka Home Buyers Forum members have urged the Real Estate Regulatory Authority (RERA) Karnataka to issue guidelines on the completion of housing projects similar to those in neighbouring states. They complain that many builders have failed to complete housing projects on time, and RERA Karnataka has not taken any actions to ensure that builders submit progress reports on project completion.
Many reports highlighted how home buyers raised their concerns with RERA Karnataka's newly appointed chairman, Rakesh Singh. They informed him that builders submitted affidavits stating they would transfer the undivided share of the title to registered associations. However, in practice, many builders were not fulfilling this commitment, leaving buyers uncertain.
The issue has been brought to the forefront following a response from RERA Karnataka to a Right to Information (RTI) application on 3rd March 2025. In the reply, the authority stated that a project closure policy is "under consideration," which has sparked outrage among home buyers who feel that this lack of clarity has contributed to numerous unfinished projects and ongoing difficulties for residents.
The lack of a clear project closure policy has left many home buyers stuck in incomplete projects, unable to secure proper title transfers or access common areas. Buyers are particularly concerned that builders often submit affidavits stating their intention to transfer the undivided share of the title to registered associations, only to fail to follow through once the projects are completed.
While promoters are required to register their projects under the Act, there is no clear policy ensuring the completion of these projects. In contrast, smaller states like Odisha have already implemented a project closure policy to ensure builders meet their commitments and complete registered projects. Home buyers in Karnataka have called for similar measures to be adopted to prevent further delays and ensure that builders adhere to their obligations.
Without a clear policy or enforcement measures in place, home buyers are becoming increasingly disillusioned with the role of RERA in ensuring that housing projects are completed to the required standards.
