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The Karnataka Real Estate Regulatory Authority (K-RERA), a critical body for addressing homebuyers’ concerns, faces a leadership void as its Chairman, HC Kishore Chandra, retires at 65. With the state government unlikely to appoint a successor until the election model code of conduct is lifted, the authority will remain headless from Wednesday.

HC Kishore Chandra’s Tenure:

A retired Director General of Police (DGP), HC Kishore Chandra took the helm of K-RERA in May 2021. His tenure was marked by efforts to streamline the regulatory process and address the grievances of homebuyers across Karnataka. His retirement, dictated by the rule of a five-year term or until the age of 65, leaves a significant gap in the authority’s leadership.

Appointment Process:

As per the rules, the appointment of a new chairman involves a detailed process. The state government is expected to issue a notification calling for applications for the chairman’s post. The Chief Justice of Karnataka will then shortlist three candidates, from which the government will make the final decision. This rigorous selection process ensures that only qualified and capable individuals are considered for this influential role.

Competition for the Position:

The chairman’s position is highly coveted, with many retired IAS and IPS officers vying for the role. The post’s significance in regulating Karnataka’s real estate sector and protecting homebuyers’ interests makes it a powerful and attractive position. Some contenders have reportedly lobbied for the post to be given to a native Kannadiga, emphasizing the importance of local leadership in such a crucial role.

Interim Period:

During this interim period, the absence of a chairman could impact K-RERA’s operations and its ability to effectively address the concerns of homebuyers. Stakeholders in the real estate sector are hopeful that the government will expedite the appointment process once the election model code of conduct is lifted.

Conclusion: The retirement of HC Kishore Chandra marks the end of a significant chapter for K-RERA. The prompt appointment of a new chairman is crucial for maintaining the authority’s momentum and ensuring continued support for homebuyers in Karnataka. As the government navigates the selection process, the real estate sector and homebuyers alike await a capable leader who can uphold the standards and objectives of K-RERA.

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