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Flat owners burdened with heavy repair costs, builders unconcerned
The deluge has opened up a chasm between the state's real estate industry and its policies
Bengaluru: The repair cost of flats damaged by torrential rains in the Bengaluru has put the owners in financial trouble. Months of rain have undermined the infrastructure of the apartments in the city. Now crores of rupees need to be spent to repair the flats that were submerged in rain water for weeks. The builders have not agreed to bear the repair and infrastructure maintenance costs of the flats. So the flat owner has to bear this burden.
Apartment dwellers' welfare societies do not have a compensation fund to repair damage to buildings caused by floods or heavy rains. In addition, there is no financial assistance from the government or the local administration for the infrastructure of the apartments.
After the rain subsided, the families who returned to the apartments cleaned their flats at their own expense. But, the question has started as to who will pay the compensation for the damage to the infrastructure of the entire apartment, elevators, drainage, water treatment plant etc.
The deluge has opened up a chasm between the state's real estate industry and its policies. 'The Karnataka Apartment Ownership Act (KAOA) is a specific act that ensures the transfer of flats. However, the Registration Act 1908 needs to be amended for proper implementation of this Act. However, this work has not been done so far,' says the legal expert.
Once a flat is purchased, a builder's conveyance deed should be executed. There the entire land title, along with undivided interest is transferred to the co-operative society and each flat buyer becomes a shareholder. Apartment dwellers welfare societies can be registered under KAOA and Karnataka Co-operative Societies Act 1959. However, experts opined that the state government has not communicated the rules to the competent authority for the last four decades.
"No conveyance deed has been issued by any builder in the state. Land records show the name of the land owner and not the apartment owner. Ownership of the buyer becomes complete when his share in the apartment and common areas is conveyed. Till then the property belongs to the promoters and as per Section 6 of KOFA, the developers have to maintain it at their own cost,'' experts said.
'There are 325 villas in the layout. A lot of villa walls, waste water treatment plant, elevators were damaged due to rain. Repairing the collapsed walls will cost crores. Builders are not agreeing to bear this cost. So we have to suffer',says Rajesh Ram Mishra, Member Rainbow Drive Layout Residents Welfare Association.
"The waste water treatment plant, elevator and electrical appliances in the ground floor of the apartment were damaged by rainwater. Repairing these will cost at least Rs six crore.
The builders are responsible for this mess and the locals are demanding that they bear the cost of repairs. There is no fund collected by the flat buyers for management of unforeseen events. As the builders are not ready to pay the repair cost, we have to bear this financial burden," said Pranay Srivastava, member of the Residents' Welfare Association of Sterling Asentia Apartments..
