The property right was deleted from the list of Fundamental Rights by the 44thAmendment Act, 1978. It is made a legal right under Article 300-A in Part XII of the Constitution.
It is not an exclusive legal right offered to citizens. Hence, Option 2 is correct.
Amendments for this purpose are made to article 19 and article 31 is deleted.
It is ensured that the removal of property from the list of fundamental rights would not affect the right of minorities to establish and administer educational institutions of their choice.
The 44thAmendment Act, 1978 inserted Article 300A in a new chapter IV of Part XII of the Constitution, thereby depriving the ‘right to property of its ‘fundamental right’ status.
Article 300 A of the constitution of India says that a person shall not be deprived of his property save by the authority of the law of the Lok Sabha.