A property buyer in Bangalore would have heard about the A and B Khata, while many think A khata buildings are the safest investment, there is a lack of awareness on what actually is a B Khata.
The B khata is not a document or ownership of a property, but an acknowledgement that the government is accepting the tax for the concerned property. There is no title deed, trade or building license and financial assistance from banks obtained for B Khata properties. All these become vital while reselling or transferring the property.
Therefore, though such apartments may come at a lower price, an A khata seems safe and practical from an investment point of view.
However, B khata properties that are lying unsold has come into the Government’s notice who seems to have realized the financial potential with such properties. With massive level regularization announced, several B khata properties would be getting registered and provided with the required facilities. This move would enhance the sales thereby resulting in an overall improvement in the realty sector. Also, B khata properties with minimal deviations would be regularized under the imminent Akrama-Sakrama scheme by paying a penalty.
Yet another factor is that the rule would be applicable to properties that are already built and within BBMP limits.
However, many people feel that there should be more clarity on the specifications regarding deviations and the overall khata section.
Apparently, with around 25 lakh buildings seem to fall into the category of ‘buildings with deviation”, only 5% of the total sites seem to be fit to be called A title.
With this move, the Government is likely to receive a huge amount as revenue and many buildings would be rectifying their mistakes. Besides, the B khata properties, once registered would help a lot in overall improvement in the realty as well as infrastructure.
The Akrama–Sakrama scheme is a vital step towards ensuring regularization. Under this, buildings with minor corrections would be regularized, but whenever encroachment is involved, the buildings cannot be regularized.
The B khata is not a document or ownership of a property, but an acknowledgement that the government is accepting the tax for the concerned property. There is no title deed, trade or building license and financial assistance from banks obtained for B Khata properties. All these become vital while reselling or transferring the property.
Therefore, though such apartments may come at a lower price, an A khata seems safe and practical from an investment point of view.
However, B khata properties that are lying unsold has come into the Government’s notice who seems to have realized the financial potential with such properties. With massive level regularization announced, several B khata properties would be getting registered and provided with the required facilities. This move would enhance the sales thereby resulting in an overall improvement in the realty sector. Also, B khata properties with minimal deviations would be regularized under the imminent Akrama-Sakrama scheme by paying a penalty.
Yet another factor is that the rule would be applicable to properties that are already built and within BBMP limits.
However, many people feel that there should be more clarity on the specifications regarding deviations and the overall khata section.
Apparently, with around 25 lakh buildings seem to fall into the category of ‘buildings with deviation”, only 5% of the total sites seem to be fit to be called A title.
With this move, the Government is likely to receive a huge amount as revenue and many buildings would be rectifying their mistakes. Besides, the B khata properties, once registered would help a lot in overall improvement in the realty as well as infrastructure.
The Akrama–Sakrama scheme is a vital step towards ensuring regularization. Under this, buildings with minor corrections would be regularized, but whenever encroachment is involved, the buildings cannot be regularized.
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