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Old 14th February 2014, 10:46   #1396
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Default Re: Recession Again ?

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Don't you think its easier said than done. It takes a lot of time and scrutiny to validate the land titles and most of the decent builders offer land too far away from the city center. And also i don't think banks provide 80-85% loan to the villa plots - as against flats.
Not to forget Bangalore has huge water crises, and in your own plot you are left alone to get water connection to your house - whereas in an apartment that headache is taken care of by the administration/RWA.
I've brought a plot way back in 2008, hence let me tell my experience. Basically there are three types of sites:
1.) Panchayat
2.) DC Converted
3.) BDA or BMRDA

There are so many issues with options 1 & 2, many of facilities like water supply & electricity connection have to be initiated by the buyer, the reason they come cheap (lower psqft rate). I know few layouts in Sarjapur which paid betterment charges for proper sewage connection & cauvery water.

Option 3 would mean that the body approving the plot has obligation to provide water supply & electricity connection to the layout. In a gated layout, plots are spread across survey numbers, one could get the papers & approvals validated through a good lawyer to see if everything is OK.

Hence buying a plot to construct your own house is not a bad idea. This could take a long time, bringing the owners (mostly investors) to form an association & maintenance of the layout after the builder handover is a big challenge.
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Old 16th February 2014, 02:51   #1397
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Default Re: Recession Again ?

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Option 3 would mean that the body approving the plot has obligation to provide water supply & electricity connection to the layout. In a gated layout, plots are spread across survey numbers, one could get the papers & approvals validated through a good lawyer to see if everything is OK.
You are right about BMRDA/BDA approved plots being more reliable, but all is not well with BMRDA sites. I have seen layouts since 2010, advertised by decent groups, which were launched in big way, sold fast but on ground there is no development. Many such layouts in Sarjapur area have become jungles. Its a vicious circle - builder will develop only when people construct houses. Houses will be constructed only when the layout is inhabitable. BMRDA too are unethical many a times, releasing plots to the builders for sale before the builder has completed the basic amenities.

It is not so easy therefore to just buy a BMRDA site and then construct.
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Old 17th February 2014, 11:19   #1398
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Default Re: Recession Again ?

Buying land in bangalore is akin to putting hand into a snake pit. You never know what will happen next. From what i understand, you could buy site from among the following options:

Revenue site - meant for farming, not for residential purposes. People 'invest' in these hoping for akrama sakrama to come alive. I hope akrama sakrama NEVER EVER comes alive.

BBMP approved site - there is no such thing. BBMP cannot approve site/building. They collect propertly tax and issue khata.

DC converted with B Khata - can construct house on the site. You pay property tax to panchayat. betterment charges to be paid to BBMP, if and when it widens its net. Land could be acquired by Govt. for development purposes in future in which case you may be compensated.

DC converted with A Khata - can construct house on the site. You pay property tax to BBMP. no sewage / cauvery water at present. you may get it when BBMP widens its net. Land could be acquired by Govt. for development purposes in future in which case you may be compensated.

BMRDA approved site - approved plot for house construction in Bangalore rural areas. You pay property tax to BBMP. no sewage / cauvery water at present. you may get it when BBMP widens its net. Land may not be acquired by Govt. for development purposes in future.

BIIAPA approved site - approved plot for house construction in and around some x radius of BIAL.You pay property tax to BBMP. no sewage / cauvery water at present. you may get it when BBMP widens its net. Land may not be acquired by Govt. for development purposes in future.

BDA approved site - plot in a private layout approved by BDA. You pay property tax to BBMP. no sewage / cauvery water at present. you may get it when BBMP widens its net. 99% assurance that land may not be acquired by Govt. for development purposes in future.
DC converted with A-khata and BDA NOC - can construct house on the site. BDA basically says "i am not thinking about aquiring this land TODAY". No guarantee about TOMORROW. You pay property tax to BBMP. no sewage / cauvery water at present. you may get it when BBMP widens its net. Land could be acquired by Govt. for development purposes in future in which case you may be compensated.

BDA layout - plot in a BDA formed layout. Peace of mind option and costs a bomb. 100% assurance your site will not be acquired. But can you live in BDA layout? Naah, if you look at the condition of the newly formed ones. Maybe 10 yrs frm now. But not now.

Last edited by ajmat : 17th February 2014 at 11:30.
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Old 18th February 2014, 00:24   #1399
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Default Re: The Property / Real Estate Thread

Can you explain what does Katha mean and the difference between A-Katha and B-Katha?
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Old 18th February 2014, 02:07   #1400
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Can you explain what does Katha mean and the difference between A-Katha and B-Katha?
A Khata means properties with an entry in BBMP's legal properties register. This entitles you to facilities by BBMP (Water, sewerage, roads etc). A khata does not mean any title of ownership. It means that the person in whose name the Khata is, is entitled to legally pay taxes to BBMP. A Khata properties are easy to construct on, buy and sell.

B khata are actually sites with an entry in BBMP's B Register. Since these properties are not legal, BBMP wanted to still collect property tax, hence created a separate B register where an entry is made and property tax is collected. These plots are agricultural land which is either converted for residential use (DC converted) or Revenue sites (non converted). In both cases, betterment charges have not been paid to BBMP (charges for providing basic facilities). You cannot construct legally on such sites, since approval of a house plan requires that it is DC converted and betterment charges have been paid to BBMP. These plots can be registered, bought and sold, since over 6 lakh sites in Bangalore fall under this category.

Availability of A khata sites is sparse and costs double that of B register properties. Many private individuals who dream of having a plot of their own opt for B khata sites and are waiting for BBMP to commence collection of betterment charges to regularise their properties to A khata.

Last edited by hrman : 18th February 2014 at 02:09.
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Old 18th February 2014, 08:51   #1401
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Hi all,

I have a 1 BHK (555 sq ft.) in Bhiwadi. Its some 50 KMs from Gurgaon. I want to sell this property as i am planning to invest in my home town. Can some one direct me to correct resource. Its under construction and was bought under CLP.

nIk
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Old 6th March 2014, 12:25   #1402
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...probably Sobha 'forgot' to make the monthly 'donation' to the local son-of-the-soil.
Whom to trust anymore?

Last edited by WindRide : 6th March 2014 at 12:27.
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Old 6th March 2014, 13:25   #1403
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...probably Sobha 'forgot' to make the monthly 'donation' to the local son-of-the-soil.
Whom to trust anymore?
Jokes apart, this situation is really scary.

Buying a home is not a joke, it wipes out one's savings of his lifetime. How can you possibly see your house being mowed down? And now how do we trust builders with having not made any deviation from the sanctioned plan?
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Old 6th March 2014, 14:06   #1404
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Our community want to purchase land in NCR for building a church. Whom do we approach and how do we go about it? Should we contact real estate agents?
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Old 6th March 2014, 14:16   #1405
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Default Re: The Property / Real Estate Thread

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Jokes apart, this situation is really scary.

Buying a home is not a joke, it wipes out one's savings of his lifetime. How can you possibly see your house being mowed down? And now how do we trust builders with having not made any deviation from the sanctioned plan?
Did they really mow down the apartment with homes? I think some structures part of the lake land was demolished. Maybe they had some common areas for the apartments.

Hopefully someone will sue Sobha and BBMP and they will be held accountable since both knew it was illegal with one having paid and the other received down the table money.
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Old 7th April 2014, 19:14   #1406
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Default Re: The Property / Real Estate Thread

A friend is planning to sell an apartment. Please advise on how to go about the entire process? What docs are required to transfer ownership? The title is clear, no loans, all original docs are with him.
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Old 8th April 2014, 10:46   #1407
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Default Re: The Property / Real Estate Thread

Guys,

Can someone throw light on the current value of sites in BMRDA approved gated layout near Taverekere (Magadi Road).


Quote:
Originally Posted by hrman View Post
A Khata means properties...
B khata are actually sites with...
Very useful clarification. Thanks.
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Old 9th April 2014, 01:24   #1408
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Did they really mow down the apartment with homes? I think some structures part of the lake land was demolished. Maybe they had some common areas for the apartments.
They took down the compound wall of the apartment. Plus some other non-residential properties surrounding the lake. To me, the demolished structures doesn't look like part of the lake cause there is a road surrounding the lake which separates these entities from the lake. Not sure who is at fault here.
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Old 10th April 2014, 12:10   #1409
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They took down the compound wall of the apartment. Plus some other non-residential properties surrounding the lake. To me, the demolished structures doesn't look like part of the lake cause there is a road surrounding the lake which separates these entities from the lake. Not sure who is at fault here.
The road is also part of the lake. Even part of the outer ring road is part of the lake as per the records. The cabinet okayed the ring road.

The corrupt builders and bureaucracy is at fault. Not sure why the onus of verifying a property is on the buyer when its the responsibility of the govt to red flag if something illegal is being done. Not sure why they are paid in addition to the other incomes.
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Old 23rd April 2014, 12:04   #1410
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I have a 5000 Sq Ft plot in my name at a township developed between Karnataka and Tamil Nadu on the Tamil Nadu side. I want to sell it. Any buyers interested, please PM me for details. I bought it around 7 yrs ago for approximately Rs.80 psqft.
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