E-Khata Delays and New Flat Handovers: What Shriram Properties' FY26 Shows Bangalore Buyers

Bangalore's civic body was reorganised in September 2025, and for some months the paperwork behind new flat handovers slowed down. Shriram Properties, a listed developer with a large Bangalore portfolio, reported the effect in its FY26 quarterly results. This article explains what happened, why an e-khata and an occupancy certificate decide the handover date of a new flat, and what a buyer should check before the final payment.

What Shriram Properties Reported

The Greater Bengaluru Authority and five city corporations replaced the BBMP on 2 September 2025. Approvals, occupancy certificates and e-khatas for newly completed buildings slowed while the new offices settled in. Shriram Properties linked slower handovers in the second and third quarters of FY26 to this change.

In its results for the October to December 2025 quarter, the developer recorded that its occupancy certificate issues had been resolved. The new e-khata system was still facing disruptions, and handovers of recently completed projects were delayed as a result. A developer books revenue from a flat when it is handed over, so the income moved to a later quarter.

The full-year picture, filed with the stock exchanges on 25 May 2026, was stronger. The main figures for FY26 are below.

• Sales bookings of Rs. 2,354 Crore across about 4.2 million sq ft.
• Total revenue of Rs. 1,356.9 Crore, 39% higher than in FY25.
• Net profit of Rs. 100.8 Crore, the first time above Rs. 100 Crore.
• A fourth quarter lifted by record handovers in Bangalore and Kolkata.

The year therefore ended with the delayed handovers largely completed. The fourth quarter results described the e-khata, occupancy certificate and registration processes as returning to normal. For a buyer, the useful part is the mechanism: a finished flat still waited for paperwork before it changed hands.

Why Paperwork Decides the Handover Date

A new flat inside the city corporation limits passes through four steps between the end of construction and the keys. Each step depends on the one before it.

1. The occupancy certificate, issued by the city corporation, confirms that the building follows the sanctioned plan and is fit to occupy.
2. The e-khata for each flat is created in the corporation's property record.
3. The sale deed is registered at the sub-registrar's office, with the e-khata details in the deed.
4. The developer hands over possession, and the buyer applies for the khata in their own name.

Since October 2024, a property within the city limits needs a final e-khata before a deed is registered. A new apartment block first needs e-khatas for all its flats, which the developer arranges after the occupancy certificate. A delay at the first or second step holds up every step after it, however complete the building looks.

What a Handover Delay Costs a Buyer

A developer whose revenue moves by one quarter recovers it in the next. A household has less room. The costs of a late handover fall under three heads.

• Rent on the present home continues alongside the loan instalment on the new one.
• The bank's final loan instalment, usually released at registration, stays pending.
• School admissions, interiors and a planned move are pushed back.

The monthly burden is worth working out in advance. As an illustration, take a flat of Rs. 80 Lakhs with 20% paid down. The loan of Rs. 64 Lakhs at 8.5% for 20 years carries an EMI of about Rs. 55,500. A family paying that along with rent for three extra months needs a clear buffer.

The sum is easy to test before the agreement is signed. Our EMI calculator works out the instalment for any loan amount, and the rent for the likely waiting period is added to it.

What RERA Says About the Delay

The date that counts is the possession date in the registered agreement for sale. Under section 18 of the RERA Act, a buyer who stays in a delayed project is entitled to interest for every month of delay until handover. A buyer who prefers to leave is entitled to a refund with interest.

The Act treats force majeure narrowly. Section 6 lists war, flood, drought, fire, cyclone, earthquake and other natural calamities. A slowdown in civic paperwork is absent from that list, and Karnataka RERA decides each complaint on its facts.

Two more sections set the order of events after completion. Section 19(10) asks the buyer to take possession within two months of the occupancy certificate. Section 17 requires the developer to execute the registered conveyance within three months of that certificate, unless a local law sets another period.

Checks Before the Final Payment

A buyer close to possession in Bangalore gains from asking a few direct questions.

• Ask for a copy of the occupancy certificate and read which towers and floors it covers.
• Ask whether the e-khata for the specific flat has been issued, and note its property ID.
• Confirm whether the record is in the A register.
• Compare the possession date in the agreement with the completion date on the Karnataka RERA portal.
• Link the last instalment to registration of the sale deed in the payment schedule.
• Tell the bank the expected registration date, so the final release is ready.
• Keep the present rental agreement flexible until a registration slot is booked.

Possession offered before the occupancy certificate is best declined. The flat then has no e-khata and no registered deed, and the buyer carries the risk of any deviation from the plan. A written possession offer that quotes the certificate number and date is the document to wait for.

What This Means for Buyers Now

The episode was a transition problem, and the developer's own fourth quarter figures show handovers moving again. It still holds a lasting lesson. Completion of construction and completion of the sale are two separate events, and the second depends on public offices as much as on the developer.

A buyer comparing nearly finished projects should therefore weigh the paperwork along with the building. A project with its occupancy certificate and e-khatas in hand is ready for registration. A project that is structurally complete but still waiting for them carries a timing risk, and the budget should allow for it.