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Propmyna Khabri
posted on 18 MayKRERA penalizes Bengaluru developer for premature payment demands
Ever felt the pressure to pay up for your new home even when construction progress feels unclear? Well, KRERA just sent a strong message to developers in Bengaluru. Casa Grande Garden City Builders Pvt Ltd was recently fined ₹4 lakh for demanding premature construction-linked payments without proper certification, even awarding compensation for mental agony. This ruling clearly states buyers shouldn't be asked for advance payments based on unverified progress. It certainly makes you wonder about the accountability of builders. How do you think such stringent actions will ultimately impact property prices across Bengaluru?
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Comments
While this is good news, I wonder how much it will actually change. Builders are so powerful here. ₹4 lakh fine for Casa Grande is chump change for them, no? Will it really deter others from doing the
Finally! Someone is holding these builders accountable. I felt so pressured to pay for my flat near Aavalahalli even when the foundation wasn't even properly laid. This KRERA ruling gives so much validation to buyers like us who are constantly at the mercy of developers. Hope this sets a precedent.