Tag: Karnataka

Latest StoriesRera

Homebuyers Push for Stronger Karnataka RERA Enforcement

BENGALURU: The Karnataka Home Buyers’ Forum has urged the state government to enforce Section 17 of the Real Estate (Regulation and Development) Act, 2016. This is aimed at safeguarding the interests of home buyers. According to Section 17, promoters must execute a registered conveyance deed for the allottee, including the undivided share of common areas, and provide physical possession of the respective apartment, plot, or building. Additionally, the common areas must be handed over to the apartment association or the competent authority upon project completion. In a comprehensive letter addressed to the Greater Bengaluru Authority and the Urban Development Department,…

Latest StoriesRegulatory

Assembly passes 12 bills, including Karnataka rent changes

BELAGAVI: On Tuesday, the state Assembly approved 12 bills, including the Greater Bengaluru Governance (Second Amendment) Bill. This bill allows all MPs and MLAs who reside in Bengaluru and are on the city’s electoral roll to become members of the Greater Bengaluru Authority (GBA). Deputy Chief Minister D K Shivakumar, responsible for Bengaluru’s development, stated, “Public representatives who are voters in Bengaluru were previously excluded. Now, we will include Rajya Sabha member Sudha Murty, Union Finance Minister Nirmala Sitharaman, and certain areas from Chikkaballapura Lok Sabha constituency, represented by Dr K Sudhakar, in the GBA.” He added that the amendment…

Latest StoriesRera

Karnataka RERA: Builders Must Insure Common Areas or Cover Repairs

BENGALURU: The Karnataka Real Estate Regulatory Authority (K-Rera) has issued a directive emphasizing that builders must insure common areas to avoid covering repair costs for disasters themselves. In a recent ruling, K-Rera instructed the developers of an apartment complex on Kanakapura Road to provide all insurance documentation for the project within 30 days, partially addressing a complaint regarding a fire incident that damaged the Block 4 clubhouse. The complaint arose from a fire on January 30, 2024, when resident Dhananjaya noticed smoke emanating from the clubhouse. The blaze destroyed the ladies’ washroom and sauna. Despite repeated requests for repair or…

Housing FinanceLatest Stories

Can Fin’s Growth Journey Expands in the North

Can Fin Homes has seen its stock rise nearly 22% in the last three months, with a 10% increase following the announcement of its second-quarter results on October 18. Over the same period, the BSE Financial Services index has gained more than 9%, with a 2% increase since October 18. The housing finance company expects to boost its Assets Under Management (AUM) growth to over 15% in FY27, compared to an anticipated 12% for the current fiscal year. This growth will be driven by an expansion in Northern regions and a recovery in its current markets in the South. In…

IndustryLatest Stories

Karnataka allows registrars to eliminate fake registrations

BENGALURU: The state government has introduced draft rules aimed at combating fraud in property registration, empowering district registrars to cancel registrations made with forged or illegal documents without requiring court intervention. This marks a significant change in the state’s registration process. On Friday, the Karnataka Registration (Refusal and Cancellation of Registered Documents) Rules 2025 were unveiled, inviting public feedback for 15 days before their finalization. These provisions aim to address persistent loopholes in the document registration system. According to the draft rules, a district registrar can annul fraudulent registrations either independently or upon receiving a complaint. Affected individuals have three…

IndustryLatest Stories

Bengaluru Allows 15% Regularization for Minor Building Deviations

BENGALURU: In a significant development, the Karnataka government has granted relief to building owners statewide who have deviated by up to 15% from their sanctioned plans. Owners can now apply for revised plans by paying a designated fine that corresponds to the extent and nature of their deviations. While this current order does not cover the Greater Bengaluru Area (GBA), residents can look forward to potential good news. The town planning unit in GBA is working on a similar draft bill aimed at regularizing building deviations of up to 15% in Bengaluru. Officials stated that since the GBA is not…

IndustryLatest Stories

Karnataka Builders Hit with Heavy Fines for Plan Violations

BENGALURU: The Karnataka government has updated the penalty rates for buildings that have been constructed against approved plans within urban local bodies. A recent government directive allows these buildings to obtain revised plans if they pay a specified fine, provided that deviations are within 15 percent of the sanctioned setback limits. Under the new regulations, residential, industrial, and other non-commercial structures in Town Panchayat areas will incur a fine of ₹1,000 per square metre, while commercial buildings will face a penalty of ₹1,500 per square metre. For Municipal Council areas, the fines are set at ₹1,200 and ₹1,800 respectively; in…

IndustryLatest Stories

Karnataka Sets Rules for Layout Approvals on Converted Land

BENGALURU: The Karnataka Department of Rural Development and Panchayat Raj has issued guidelines for the design approval process for layouts on converted lands within gram panchayat limits but outside designated planning areas. As stated, under Section 199(B) of the Karnataka Gram Swaraj and Panchayat Raj (Amendment) Act, 2025, the appropriate authority—either the Gram Panchayat or a government-nominated authority—must secure prior approval from the competent planning authority with jurisdiction over the layout plan. This approval is essential prior to issuing a new ‘khata’ or Property Identification (PID) number for construction-related sites, the statement noted. Developers are mandated to submit an application…

Latest StoriesResidential

Owners Demand Overhaul of Karnataka Apartment Ownership Act

BENGALURU: Despite consistent reminders from home buyers and residents’ welfare associations regarding the need for a new apartment act, the state government has yet to prepare the crucial draft, even after two years. Home buyers are urging Karnataka to update the Karnataka Apartment Ownership Act of 1972, which they view as outdated and ambiguous regarding the rights and responsibilities of flat owners. Dhananjaya Padmanabhachar, representative of the Karnataka Home Buyers Forum, reached out to IT and BT Minister Priyank Kharge, urging him to encourage Chief Minister Siddaramaiah to expedite the development of a new apartment act. The goal is to…

Latest StoriesResidential

Regularize Buildings Under Karnataka’s e-Swathu: Tax Since 2016

BENGALURU: Property owners wishing to regularise unauthorized properties under Karnataka’s e-Swathu scheme are required to pay property tax retrospectively, starting from either 2016 or the year they received an electricity connection, as per official guidance. The e-Swathu initiative aims to incorporate unauthorized properties into the tax system and improve transparency. Panchayats have been instructed to promptly assess and collect dues based on various slabs linked to the guidance value. The process is regulated by the Karnataka Gram Swaraj and Panchayat Raj (Gram Panchayat Tax, Rates and Fees) Rules, 2025, which were officially published last week. According to these rules, Gram…