Key Highlights
- The draft legislation redefines apartment governance by introducing joint ownership of land and common amenities.
- It harmonises local housing rules with the national Real Estate (Regulation and Development) Act, 2016 (RERA).
- Buildings that are 30+ years old must secure a Structural Stability Certificate, renewed every five years.
- Redevelopment of older complexes is allowed only after 75% owner assent, with fair compensation for dissenting parties.
- The Bill empowers resident councils to manage maintenance while remaining non‑owner stakeholders.
Detailed Insights
Rapid urbanisation in Bengaluru has led to an ascent of apartment living, withარ over 25,000 complexes accommodating 2.5‑million residents and 60,000‑75,000 units registered under KRERA last year. Existing statutory provisions, drafted half a century ago, no longer resonate with modern housing trends and frequently clash with RERA, creating friction for owners and developers alike. The Karnataka Assembly’s proposed Bill seeks to rectify these disparities by streamlining ownership structures, clarifying property metrics, and instituting safety checks that were previously absent.
Ownership is now vested in the collective of apartment holders rather than an individual entity. While resident councils will administer day‑to‑day operations, they will not possess the title, thereby reducing ownership disputes over common spaces.
With the aim of curtailing land‑measurement disputes, the Bill introduces standardized definitions such as private area, super‑built‑up area, and undivided land share. A critical feature is the regulatory framework for redeveloping aging buildings: consent from 75% of owners is mandatory, and those who opt out are entitled to compensation equal to at least twice their market value.