Karnataka RERA recently revealed that 88% of the recovery orders it issued are still pending. The agency has issued recovery orders worth Rs 707 crore in a total of 1,539 cases, with 88% of these orders remaining unresolved. Rakesh Singh, the chairman of K-RERA, stated that discussions are ongoing with the relevant authorities to expedite revenue recovery.
As of August 31, compensation recovery has been achieved in 185 cases amounting to Rs 79.94 crore. However, recovery is still pending in 1,354 cases, totalling over Rs 627.32 crore. Rakesh Singh noted that efforts are being made to accelerate the recovery process and emphasised that resolving buyers’ complaints is one of their primary objectives.
