Deutsche Bank Shares Rise After Shakeup

ENLARGE Deutsche Bank managers held meetings and conference calls with employees in London, New York and Frankfurt, above. Photo: Martin Leissl/Bloomberg News By Jenny Strasburg and Jenny Strasburg The Wall Street Journal CANCEL Biography @jennystrasburg Google+ [email protected] Juliet Samuel Juliet Samuel The Wall Street Journal CANCEL Biography @CitySamuel [email protected] Oct. 19, 2015 1:46 p.m. ET 0 COMMENTS Deutsche Bank AG DB 2.48 % employees and investors on Monday positively graded the lender’s management and organizational overhaul, saying they welcomed clarity on how businesses will be judged going forward. They also said next week will be crucial to understanding Deutsche Bank’s

Khatha A or Khatha B – How to apply in Bangalore?

Khatha is one of the important document for transferring the property or paying the taxes in Bangalore. If you buy a property or flat in Bangalore, you must get the Khatha at the earliest for avoiding any issues on property at the later point of time. There is a confusion among the Bangalore citizens on Khatha A and Khatha B documents.

There are many flat owners get the Khatha B and thinks that that is sufficient for protecting their property. In face that is not true, as per the law, there is only one Khatha that is Khatha A. This article explains the history of Khatha B and why it won’t be considered as the legal documents to claim your property ownership. If you are Bangalore citizen and own a property, I would be happy to see the experience on getting Khatha for your property. Also please join our facebook fans page.

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What is Khatha?

Literally means an account, this Khata is an account of a person who has property in the city. Khatha is an account which reveals the details of a property like owner name, size of the property, tax paid, location of the property, etc. This is a most important legal document for finding the person who are liable to pay the tax for the property. However note that, Khatha is not to be considered as the ownership of the property, it is merely used for paying the property tax. The title deed is the valid ownership document which confers the ownership of the property. It is account for paying the tax within the jurisdiction of BBMP. This document is important if you want to construct a house, apply for a license to run  business on that property, etc. Without this document you will not be able to do any legal business / trade using that property.

  1. Khatha Certificate is required for registration of a property or transfer of a property. Owner of the property has to give the tax receipt (latest) to the assistant officer to get the certificate.
  2. The certificate is issued saying that a particular property No ‘XYZ’ stands in the name of person A.
  3. This certificate is required to apply for water connection, electricity connection, trade license and building license.
  4. The Khata certificate is given only to the owner of the property or to his family members

Khatha B / Khata Extract

There is nothing called Khatha B. There is only one Khatha is issued to the owners and no second thought on Khatha on getting the “B” certificate. According to the govt. officials, what we are referring as Khatha B is Register B where property tax collections are registered those who are not received the Khatha certificate.

As you understand from the above sections, you must have Khatha to pay the property taxes, but there are thousands of properties don’t have valid Khatha and they enjoyed the privilege of not paying the property taxes. To collect the taxes from those who don’t have Khatha, BBMP has opened register B and made entry for the tax payment. You can get the extract of thses transactions from the register B, this document we are calling it as Khatha B. But, we totally misunderstood that it is equivalent of Khatha.

Now the disadvantages of having the B Khatha is that you will not get the building license or any approval from the government. However, you can convert to the A Khatha by paying the betterment charges. For that you should have the following documents:

  1. You should have DC converted property (This is the original land which is used for agriculture and then converted for the residential purpose.)
  2. Tax must be paid till date
  3. Betterment charges for the conversion property need to paid to BBMP.

If you are looking to buy a property, always look for a property with A khatha to avoid any problems in the future.

How to apply Khatha for Apartments / Flats?

If you own a flat in Bangalore, it is always good idea to get the Khatha document at the earliest. This is one of the important document to claim your ownership on the property. It is not very easy at first time, you have to get all the documents and then apply for it. This section lists what are the necessary documents needed.

  1. First thing get Encumbrance Certificate (EC) for one year and fill the form 22 at the sub-registrar office. Getting EC is not very difficult, you can get the computer generated EC by providing your property details.
  2. Get a khata application form and get the following documents.
    1. betterment charges receipt (This has to be paid for regularize the deviations or any issues on the plans. This money goes to the govt.). You have to wait till when govt. announces for accepting the betterment charges.
    2. building sanction letters (Get it from builder)
    3. title certificate (Get it from builder / land owner)
    4. Sketch of layout (Get it from builder / land owner)
  3. Get copies of the following notarised:
    1. Sale deed (It is given by builder upon the registration of the flat on your name)
    2. Form III (if you have)
    3. Possession Certificate (This is issued by the builder. Most of the case builders not issued this certificate. It is not compulsory to provide this certificate)
    4. GPA (General Power of Attorney is rights given to another person while forming the initial layouts)
    5. Fill the forms in the colours green and pink.
  4. Attach the Khatha application form to the notarized documents as mentioned above in the point 3, EC, latest property tax paid receipts, plan of the flat, along with the common documents and submit to the local Assistant Revenue Officer (ARO). Once you have provided all the documents, get the pink acknowledgement slip with you. It should be stamped and signed with submission number.
  5. Once you have successfully submitted the document, after 15 days or more, you receive a demand note to pay the registration fee. This amount is the 2% of the stamp duty mentioned in your sale deed. This demand note may not be issues for all the flats in your apartment. It is good idea to submit all your application together and get DDs for demand note together.
  6. Once again go to ARO and submit the DDs as mentioned in the demand note. Wait for another 15 days or more.
  7. You will receive a notification to get the certificate from ARO office. Just check if all the details are correct, then walk in to ARO office and get the Khatha certificate.
  8. Please note that khatha for the land would be different process. The above mentioned steps are applicable only when you are applying for flat.

Summary

Reading the above sections, the following are the overall summary of the getting the khatha process:

  • There is only one Khatha, there is nothing called Khatha B
  • Owners should try to apply for Khatha A, if some one tells you to apply for Khatha B, don’t trust them or teach them the fact.
  • Flat owners has to be pay the betterment charges to get the Khatha. If it is not yet paid, wait till the further announcement from the government.
  • It has to be applied from Assistant Revenue Officer (ARO) of your jurisdiction. If you have all the valid document as mentioned abobe, you can directly apply for the certificate without paying any bribe or any shortcut.

Also please join our facebook fans page. Post your questions in the comments section. 

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