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Residents of the Andaman and Nicobar Islands may soon find it easier to register their apartments and flats, as the Andaman administration to implement apartment ownership regulation is now in its final stages of approval. This new measure is designed to simplify the property registration process and address long-standing challenges faced by homeowners in the Union Territory.
A Step Towards Streamlined Apartment Ownership
According to officials, the Andaman and Nicobar Islands Apartment Ownership Regulation, 2025 will allow individual registration of flats and apartments, benefiting thousands of residents. The administration has worked closely with various departments to draft the regulation, ensuring it meets the needs of both property owners and the real estate sector.
An official explained that the initiative aims to regularise and streamline apartment ownership while promoting transparency. Public suggestions, particularly from stakeholders in real estate and housing, have been incorporated into the draft after positive feedback from a recent meeting.
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Addressing a Major Hurdle for Property Owners
Currently, the rules in the islands do not permit registration of private buildings with fewer than eight apartments. This restriction has often left buyers unable to secure home loans, as banks require registered properties for loan approval.
Under existing regulations, buildings with eight or more flats must be converted into housing cooperative societies before registration. While this process enables residents to access bank financing, smaller buildings have faced difficulties in both selling properties and attracting buyers due to the lack of registration options.
With the new regulation, however, apartment owners regardless of the number of units in their building—will be able to register their property and obtain home loans.
Benefits for Residents and the Real Estate Sector
The Andaman administration to implement apartment ownership regulation is expected to have a significant positive impact on both residents and the real estate market. It will eliminate the barriers that smaller apartment complexes face, making transactions smoother and more secure.
By allowing all property owners to register their flats, the regulation will also boost buyer confidence, potentially encouraging more investment in the islands’ housing sector.
Stakeholder Involvement in Drafting the Regulation
The administration has emphasised an inclusive approach, seeking input from developers, real estate agents, housing society representatives, legal experts, and the general public. These suggestions will be reviewed before the final draft is approved.
Officials believe that once implemented, the regulation will not only protect the rights of property owners but also foster growth in the housing market by ensuring uniformity in property registration.
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Conclusion
The Andaman administration's implementation of apartment ownership regulation marks a crucial shift in the way property ownership is handled in the Union Territory. By opening up registration to all apartments, big or small, the move promises greater accessibility, financial flexibility, and a boost to the islands’ real estate sector. For residents, it’s a long-awaited solution that will make homeownership simpler and more secure.
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Ans 1. It is a new regulation that will allow individual registration of flats and apartments in the Andaman and Nicobar Islands, regardless of the building size. This aims to simplify the property registration process and make it easier for residents to secure home loans.
Ans 2. The regulation was introduced to address long-standing challenges faced by apartment owners, particularly those in smaller buildings that previously could not be registered under existing laws.
Ans 3. It will give all apartment owners the legal right to register their property, making transactions smoother and enabling them to access home loans without unnecessary hurdles.
Ans 4. Earlier, only buildings with eight or more flats could be registered, and they first had to be converted into housing cooperative societies, leaving smaller buildings without registration options.
Ans 5. With registration now possible for all apartments, owners will be able to meet bank requirements for loan processing, making financing more accessible.
Ans 6. Yes, it is expected to boost buyer confidence, attract more investors, and make property transactions more transparent and secure.
Ans 7. Yes, the administration consulted developers, real estate agents, housing society representatives, legal experts, and the public, incorporating their feedback into the draft.
Ans 8. It is currently in the final stages of approval, and officials expect it to be rolled out soon after the review of the final draft.
Ans 9. Yes, under the new regulation, all apartment owners whether in small or large buildings will have the same legal rights for registration.
Ans 10. It will make selling easier and more secure, as buyers will be assured of proper registration, encouraging a more active and stable real estate market.