Mysore is a Tier 2 city in India and one of the fastest growing cities in the state of Karnataka, South India.
Mysore is one of the few cities that has a pleasant weather all around the year. The convenience of a lower cost of living while also offering a decent quality of life makes the city a great option for real estate investment in A Khata sites in Mysore.
The last thing that you want after you finally invest in a real estate property is unforeseen legal complications. Owning a property is hard enough given how many years one has to save up money or even get a home loan.
Recent laws like RERA have given potential property buyers in Mysore a great relief and hope to make a real estate investment. Each state in India has its own RERA body while some smaller states merge with RERA of one of its geographically closest bigger states. Since Mysore lies in Karnataka, it follows the laws of RERA Karnataka, formed in 2017.
Opting for properties that have no legal complications is always a safe way to invest in real estate in Mysore.
A Khata sites are the sites that have a valid A Khata certificate, making them legal in every way. Most importantly, these sites are legal proof that all property taxes have been fully paid by the owner. A Khata is the final certificate and it does not need to be further converted to any other form to be valid for all legal processes regarding the property.
A Khata sites in Mysore are a great investment and a relief to the investor when it comes to carrying out legal formalities. There are no hidden issues and all information with A Khata sites is transparent. An A Khata certificate also verifies the property owner’s name, making it a valid proof of ownership for that property. Khata extract is another document that describes the type of the property and its valuation.
Since A Khata sites are legally fully approved by the government, the owners of A Khata sites in Mysore have numerous benefits such as getting trade licenses, building licenses, home loans, access to amenities such as water connection, etc.
A Khata sites in Mysore are ready for transfer of ownership. The process is simple and without any complications.
A Khata sites in Mysore are always a better option over B Khata sites despite any short-term benefits that the latter may provide. In many cases, people invest in properties with a mere purpose of reselling them sometime in the near future or even earlier. Any owner of an A Khata site can easily resell the property or even renovate it without having to obtain any separate legal permissions for the same.
B Khata sites are considered as illegal, opposite to A Khata sites. Eventually, the sole purpose of B Khata sites in Mysore is to be converted to A Khata sites in Mysore to be able to carry out any legal transaction or obtain any license. B Khata sites are thus temporary until they turn into A Khata sites.
When a B Khata site needs to be converted to an A Khata site, the owner needs to clear all dues including property taxes which may turn quite heavy. In simple words, A Khata sites follow all rules and regulations of properties that are put forth by the GoI.
GSS Projects is a real estate consultant with 25+ years of experience in Karnataka real estate sector and is well-versed in the field. Contact us for expert real estate consultancy services in Mysore.