K'taka assembly passes apartment Bill: From ownership to redevelopment, rules defined

The Karnataka Assembly has passed a landmark bill to regulate apartment ownership and management effectively.

This legislation lays the groundwork for Residents' Welfare Associations and offers guidance on managing common spaces.

It also introduces a multi-tiered dispute resolution system.

For redevelopment initiatives, a majority of 75% owner consent is now required, with owners who decline receiving double their property's assessed value.