Mysore/Mysuru: The Mysuru Chapter of the Confederation of Real Estate Developers’ Associations of India (CREDAI) has raised serious concerns over mounting administrative hurdles that it says have brought Karnataka’s real estate sector to a near standstill.
Addressing a press conference at Pathrakarthara Bhavan here recently, CREDAI President Harish Shenoy urged the State Government to take immediate corrective steps to restore momentum in property transactions and development.
He identified the mandatory shift to the E-Khata system as a major bottleneck, citing persistent technical glitches and unsynchronised data that have stalled property sales and mortgage approvals.
Shenoy called for urgent bug fixes, a clear timeline for E-Khata issuance and interim permission for manual or hybrid registrations until the digital system stabilises.
CREDAI also criticised the extension of CVC price-fixation mandates to old, established layouts, rules originally meant only for new developments, saying this has created avoidable bureaucratic delays.
He urged the Government to exempt established layouts from CVC mandates and allow registrations based on Sub-Registrar guidance values and benchmarks from adjacent layouts.
The new requirement to submit a fresh life certificate with every transaction under a registered General Power of Attorney (GPA) was described as a logistical nightmare, particularly for senior citizens and NRIs.
CREDAI demanded the immediate withdrawal of the rule, stressing that a legally registered GPA should be honoured without repeated verification of the principal’s life status.
CREDAI Hon. Secretary Nagaraj Bairy and other office-bearers warned that unless these issues are resolved swiftly, the sector risks prolonged stagnation with serious economic consequences. They appealed to the Government to act decisively, noting that real estate remains a key driver of employment and urban growth.
CREDAI Chairman D. Srihari, Vice-President L. Arun Pandit, and Executive Committee Member Anil Kumar were present at the press conference.
