Karnataka's Real Estate Regulatory Authority (RERA) has made it mandatory for Ozone Group to repay a homebuyer's home loan, effectively relieving the buyer of all financial obligations.

This decision was made after the developer was found responsible for covering the pre-EMI payments on the loan until the buyer took possession of the apartment or the buyback period ended.

The ruling highlights the regulatory body's dedication to safeguarding consumer rights in the real estate sector and ensuring that developers fulfill their financial responsibilities towards homebuyers.

This action is expected to establish a precedent for similar cases in the region, reinforcing the accountability of developers in the housing market.