No sale agreements in the state of Karnataka under the RERA format

The state government of Karnataka is yet to wake up from slumber as the homebuyers struggle to get justice against the builders. It has been almost an year since the implementation of the parent act i.e. Real Estate Regulation and development Act, 2016 in furtherance of which the state of Karnataka implemented the rules in the year 2017 but not a single property has been registered since then under the newly implemented rules. The reason? The state of Karnataka is yet to come out with the “Agreement of sale” (Aos) specified in the act. The Aos is come as boon for the home buyers, as the builders have to clearly mention the carpet area, super built area and other details thus giving clear picture to the home buyers. As if today, every builder has their own format of sale agreement in which self advantageous clauses are written down. It is high time that the state government wakes up to the injustice call of the home buyers.

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