The Economic Times News

Flat ready but keys not handed over: Karnataka RERA rules landowner are promoters too, orders Rs 6 lakh payout to homebuyers for delayed possession

Karnataka RERA has ruled that landowners are also considered promoters under the RERA Act. This decision came after homebuyers filed a case for delayed possession. The authority ordered the landowner to pay Rs 6 lakh as interest compensation. The delay occurred because the landowner was involved in a pending partition case, preventing the sale agreement from being signed.