BANGALORE: Good news for property owners and registrations.Even as there is slump in the property registration resulting in decline in revenue, the state cabinet on November 13 decided to allow transaction and registration of properties of B-khatas (title deeds) in BBMP limits.
Registration of B-khata properties had stopped since some months. The B-khatas are properties, which do not have proper title or those with deviations. Layouts and houses constructed on properties belonging to revenue land, which has not got converted from the district deputy commissioners are termed as B-khata. Even if conversation has taken place and the plot has not been approved by the local planning authority like BBMP, BIAPPA and BMRDA is also categorized as B-khata.
The decision to open up registrations would help cash strapped BBMP to mop up revenue to the tune of over Rs 1,000 crore and utilize the money for various development activities.
Law and parliamentary affairs minister TB Jayachandra told reporters here that more than 90% of construction and vacant plots in BBMP limits fall under B-khata. The properties under B-khata often change hands leading to registrations may times resulting in good revenue for the government.