The Karnataka High Court has urged the government to prioritize the appointment of the chairman for the Karnataka Real Estate Regulatory Authority (KRERA) Appellate Tribunal, emphasizing the need to maintain a functional regulatory body despite the upcoming Lok Sabha polls. Assurances have been provided by the government, indicating Chief Minister Siddaramaiah’s imminent appointment pending his signature.
This call to action follows the High Court’s scrutiny over the government’s prolonged delay in addressing vacancies within the regulatory authority since June 2023, resulting in the non-operation of the RERA tribunal. With its mandate to adjudicate appeals concerning possession delays and compensation disputes, the inactive tribunal, lacking a chairman, has left crucial cases unresolved.
The urgency for action was underscored by a case brought forth by Mathew Thomas, a flat buyer awaiting possession in the Sobha City project, Bengaluru. Despite KRERA’s favorable ruling on delays and compensation, the absence of a tribunal chairman hindered the appeal process, prolonging the resolution of the case for five years.
With the general election looming, the High Court emphasized the critical need to appoint tribunal members promptly, citing the backlog of cases and the imperative of a fully operational regulatory body. This directive stresses the importance of timely appointments to ensure the efficient functioning of regulatory authorities and the expeditious resolution of real estate disputes.
As efforts between the judiciary and government converge to address regulatory vacancies, stakeholders in the real estate sector eagerly anticipate the appointment of a new chairman and the subsequent resumption of tribunal operations. This step is poised to facilitate the swift resolution of pending cases, ultimately safeguarding the interests of homebuyers.