CREDAI Bengaluru flags issues in implementation of e-Khatas

Confederation of Real Estate Developers’ Associations of India (CREDAI Bengaluru), while welcoming e-Khata as a “step in the right direction to bring enhanced transparency and responsibility into the real estate sector”, said the sector has been facing challenges due to its sudden mandatory implementation.

“The sudden implementation of mandatory e-Khata has resulted in a rush of applications and subsequent overflow of applications from the general public, causing significant distress to people who are in the process of getting their documents registered,” said Amar Mysore, president of CREDAI Bengaluru.

Mr. Mysore also stated that the current process of uploading documents for e-Khata and the document verification process adopted by BBMP was time-consuming and cumbersome, and therefore have been causing delays in the registration process of various documents. Additionally, CREDAI Bengaluru also recommended streamlining the uploading process by introducing a user-friendly interface, allowing users to upload the requisite documents to complete the e-Khata procedure.

The industry body also raised concerns about the new system’s impact on stamp duty calculations for undeveloped land. With the e-katha being insisted upon, even the undeveloped lands were wrongly being assessed on valuation based on per sq ft. basis contrary to the previous method of acre-wise valuation, it said. They have demanded reverting to the previous mechanism for undeveloped land, reducing stamp duty fees for deposit of title deeds.

CREDAI - Bengaluru on Thursday submitted a memorandum to Revenue Minister Krishna Byre Gowda and Munish Moudgil, Special Commissioner (Revenue), BBMP, spearheading the e-Khata initiative. “We have been assured by the government and BBMP that our suggestions will be considered, and we are confident that all issues pertaining to this will be resolved speedily so that the government, the real estate sector and the home buyers are benefitted,” Mr. Mysore further said.

Published - December 12, 2024 11:57 pm IST