Rera to builders in Karnataka: Insure common areas or pay for disaster repairs; tribunal flags mandatory coverage
Karnataka Rera has raised the bar for construction standards by enforcing a policy that compels builders to secure insurance for communal areas, underlining their accountability for potential disaster recovery costs. Following a recent clubhouse fire, developers are now required to provide verifiable insurance documentation within a tight 30-day window.
Karnataka Rera has raised the bar for construction standards by enforcing a policy that compels builders to secure insurance for communal areas, underlining their accountability for potential disaster recovery costs. Following a recent clubhouse fire, developers are now required to provide verifiable insurance documentation within a tight 30-day window.
