Amendment status not verified — confirm the current text below against the official source.
Power to make rules. * * * * STATEMENT OF OBJECTS AND REASONS Act 17 of 1992.- Some of the major bottlenecks faced by the Bangalore Development Authority and the Urban Development Authorities in accelerating the much needed formation and distribution of sites in Bangalore City and other urban areas are the following; (1) Un-authorised sale of sities by the affected land holders through registred sale deeds or against power of attorneys or entering into agreements of sale, after collecting advance payments. (2) Un-authorised construction activity by the transferees in various parts of Bangalore and other urban areas under the cover of the afore-mentioned sale deeds and power of attorneys. The value of the land in the areas notified for acquisition tends to increase, and advantage thereof is taken by many un-scrupulous land holders, by selling their lands to un-suspecting buyers, in violation of various laws. The transferees, in turn indulge in un-authorised construction rendering the process of acquisition of land and planned urban development extremely difficult, if not impossible. Similar laws passed in other States in the Country have greatly helped in preventing such unauthorised transactions. The present measure is expected to prevent the difficulties caused in the way of acquisition of lands and to help in the speedy formation and distribution of sites. Hence the Bill. (Obtained from L.A. Bill No. 7 of 1991 published in Karnataka Gazette (Extraordinary) Part IV-2A dated 21-3-1991 as No.124) * * * * 2 KARNATAKA ACT NO. 17 OF 1992 (First published in the Karnataka Gazette Extraordinary on the Sixteenth day of May, 1992) THE KARNATAKA LAND (RESTRICTION ON TRANSFER) ACT, 1991. (Received the assent of the President on the Twelfth day of May, 1992) An Act to impose certain restrictions on transfer of land which have been acquired by Government or in respect of which acquisition proceedings have been initiated by the Government, with a view to preventing large scale transaction of purported transfer, or as the case may be, transfers of such lands to unwary public; WHEREAS it is expedient to impose certain restrictions on transfer of land which have been acquired by Government or in respect of which acquisition proceedings have been initiated by the Government, with a view to preventing large scale transaction of purported transfer, or as the case may be, transfer of such lands to unwary public and for the purposes hereinafter appearing; BE it enacted by the Karnataka State Legislature in the Forty-second Year of the Republic of India, as follows;-