No boost to real estate, but some reforms in the pipeline

In a move that will help the speedy resolution of property disputes, the state government has announced a pilot project that will pave the way for a single document to become the basis for determining land ownership.

The Land Titling project will be taken up on a pilot basis in three taluks to overcome the problem of landowners having to produce multiple documents to prove ownership. Under this project, the Record of Rights, Tenancy and Crops (RTC) will be an absolute record of ownership.

Also, the government will spend Rs 3 crore to integrate the BBMP's GIS database with the Karnataka Valuation and e-Registration (Kaveri) software of the Department of Stamps and Registration, a move that Chief Minister Siddaramaiah said will prevent the undervaluation of immovable properties in Bengaluru.

The government also plans to launch the Sukshma Rakshana Abhilekagalu (SURABHI) project to digitise heritage or legacy records in a phased manner at an estimated cost of Rs 25 crore.

The government has projected Rs 10,400 crore to be the stamp duty and registration fee for the upcoming year. However, the realty sector is miffed that Siddaramaiah has offered little to boost the ailing sector.

Various demands of the realty industry remain unmet, according to  S Suresh Hari, vice-president, Confederation of Real Estate Developers Associations of India (CREDAI), Bengaluru. "Single-window clearance of projects, stamp duty reduction, labour law simplification and additional incentives for affordable housing have not been provided," he added.

Housing projects

Besides, the government will reserve 2,000 acres of land in BBMP limits, 500 acres in other city corporations and 350 acres in towns for housing. Siddaramaiah said the government wanted to construct 20 lakh houses in the next five years. A total of 13.95 lakh houses have been constructed in the last five years.

Also, the Chief Minister's Multi-storey Housing Scheme in Bengaluru will be extended to all urban areas of the state.

Mobile apps

Siddaramaiah announced five new mobile apps: Samyojane for citizen services, Dishank for citizens to obtain survey numbers and map on the spot, Samikshe to issue digital sketches of all land survey works, Aadhaar Sangrahane to collect Aadhaar numbers of citizens and Moulya to know the guidance value of any immovable property.  A mobile app will be developed to provide a forecast on weather and issue alerts on lightning.