Karnataka Assembly passes bill regulating apartment ownership, redevelopment rules

The Karnataka Assembly has passed a landmark legislation aimed at regulating apartment ownership and management across the state. The bill establishes a framework for Residents' Welfare Associations and provides guidelines for the upkeep of common areas. A multi-tiered dispute resolution mechanism has also been introduced under the new law. For redevelopment projects, at least 75% of apartment owners must give their consent before work can proceed. Owners who choose not to participate in redevelopment will be entitled to receive double the assessed value of their property.