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PORT BLAIR: Residents of the Andaman and Nicobar Islands now have the opportunity to register their apartments, as the administration prepares to finalize the apartment ownership regulation, an official reported on Monday.
A senior official stated to PTI, “The Andaman and Nicobar Island Apartment Ownership Regulation, 2025, is designed to enable individual registration of flats and apartments for the benefit of local residents.”
The administration has developed the draft regulation in collaboration with the relevant departments.
“This initiative aims to standardize and simplify the apartment ownership and registration processes in the Union Territory. To ensure transparency and inclusivity, we have taken into account the feedback and suggestions from the public, particularly stakeholders in the real estate and housing sectors. A meeting was held today, and the feedback was very positive,” he added.
Under the current regulations, private buildings with fewer than eight apartments are not registered by the administration, which results in banks refusing home loans to potential buyers.
A senior administrative official emphasized, “When the new regulation is implemented, it will be a significant advantage for residents as they will be able to register their flats. Currently, buildings with eight or more units must form a housing cooperative society for registration, allowing access to bank loans.”
“As a result, smaller buildings with fewer than eight flats struggle to sell their properties since banks are unwilling to lend to potential buyers. Once the new regulation is enforced, anyone will be able to register their property and secure bank loans, regardless of the number of units,” he explained.
“All relevant stakeholders—developers, real estate agents, housing society representatives, legal professionals, and other interested members of the public—participated and offered their suggestions during the meeting. We will carefully evaluate all feedback before finalizing the draft regulation,” he concluded.
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