Understanding the Khata and difference between ‘A’ Khata and ‘B’ Khata
‘A’ khata Vs ‘B’ Khata The Battle.
Understanding the Khata
You have lastly found the residential or commercial property of your choice, yet you’re still a little unclear concerning the papers you need, Like, the Khata. Don’t worry, we’ve broken it down for you here.
The Khata. An essential document when buying a property. But what is it?
Khata, when literally translated means account. To put it in simple terms, a Khata is a document that shows a property owner having an account with the Municipally for paying taxes. What makes it important is it identifies the person liable for paying property tax. The details of a Khata include the property owner’s name, size of the property, location, built-up area, etc., and is essentially required to calculate the tax payable on that property.
But don’t mistake a Title Deed for a ‘Katha’.
They’re very different documents. A title deed is a record that states and also confirm an individual’s legal right to own a tract or a building. A Title Deed proves ownership of property whereas a Khata is an assessment of property for the purpose of paying taxes and maintaining records.
Why else is a Khata important?
You require a Khata to look for electrical energy and water connections, as well as for profession as well as building licenses. It is additionally needed when looking for a bank loan.
Applying for a ‘Khata’.
If you are the owner, all you need to do is buy an application form from the B.B.M.P., fill it and also send the type along with your residential or commercial property information and most recent tax receipts to the Assistant Income Officer of the concerned area. It typically takes 5 to 6 weeks to get the Khata either from the B.B.M.P or Panchayath Office.
What’s the difference between A khata Vs B Khata?
Properties listed as A Khata fall under B.B.M.P jurisdiction, while B Khata properties are under local jurisdiction. However, proprietors of B Khata homes can update to A Khata by paying a charge referred to as ‘Betterment Charges‘, in addition to the appropriate documents. It is a good idea for residential property holders under B Khata to update since there are several benefits of owning an A Khata property. One such advantage is that owners of A Khata properties are eligible to apply for bank loans.