Homebuyers of Ozone Urbana Project withdraws Cases after Years of Waiting

After experiencing protracted delays in obtaining relief for their blocked flats, homebuyers of the Ozone Urbana project in Bengaluru have withdrawn all seven lawsuits they filed with the Karnataka Real Estate Regulatory Authority (KRERA). They accused KRERA of providing justice in a way that was "utterly ineffectual and toothless."

The Ozone Urbana Buyers Welfare Association withdrawn all of the ongoing KRERA cases in accordance with a KRERA order. Rakesh Singh, the chairman of K-RERA, and G R Reddy, a member, made the order allowing the buyers to withdraw all of the cases.

"With no resolution in sight, they decided to step away from the regulatory process," said one homebuyer.

In order to get their money back from the postponed Ozone Urbana project, the buyers intend to file a case in the Karnataka High Court. The buyer declared, "We have made the decision to start over and seek justice from the High Court."

Up to 590 charges have been brought against Ozone Urbana Developers in the state. The buyer claimed that the builder had not fulfilled any of the 214 execution orders that K-RERA had issued for revenue recovery.

"Homebuyers are spending more money in the High Court to seek relief, as RERA remains ineffective. With over 590 cases already registered and another 800 expected soon, the process offers little hope for resolution," the buyer added.

"The RERA Authority remains toothless, allowing developers ample time to sell or mortgage their assets without consequences. So far, 214 execution orders with revenue recovery certificates (orders to recover homebuyers' money in stuck projects) have been issued, yet not a single one has been enforced," said a homebuyer.