[vsrivatsa]

Originally Posted by varkey

The application flow also asks for proof for A khata, though the documentation for it is not mandatory. You do have the option to select "Do not have it" or something along those lines. However, I did upload the occupancy certificate and my existing khata/khata extract.

Submitted just now - I was confused over some questions around Carpet Area which I left it at 0. There was some question around Owner Share etc - did not understand what it meant and took a percentage and put 100%.

Under what category did you upload the OC? I just submitted saying I do not have documents. The draft shows it as A Khatha.

[Gotham]

Not sure if this is the right thread but I couldn't find anything else.

My Brother & I both own a 1500 soft east facing plot seperately in Adarsh Savana located near Devanahalli. The idea was for both of us to build a house & live next door but he recently secured a PR in Australia & intends to stay there for the foreseeable future.

He now wants to sell his plot & liquidate his investment. I assumed Adarsh will be help to him but turns out they're not allowed to resell ( Bummer )

Is it wise for him to hire a real estate agent instead of posting an ad on Social Media ?

Any suggestions will be immensely appreciated

[PearlJam]

Hi, 2 questions for property registration in Bangalore:

1. For an A-khata property, how urgent is it to transfer the khata to your name, after the execution of the sale deed in your favour? Is there a risk in waiting for a few months? There's no near requirement right now for paying property tax - which I understand is the primary reason to get the khata transferred.

2. If I need to get an e-khata, is it necessary to first get the paper khata? Or, can e-khata be generated directly from the previous owner khata + the executed sale deed?

Thanks!

[balenoed_]

Originally Posted by PearlJam

Hi, 2 questions for property registration in Bangalore:

1. For an A-khata property, how urgent is it to transfer the khata to your name, after the execution of the sale deed in your favour? Is there a risk in waiting for a few months? There's no near requirement right now for paying property tax - which I understand is the primary reason to get the khata transferred.

2. If I need to get an e-khata, is it necessary to first get the paper khata? Or, can e-khata be generated directly from the previous owner khata + the executed sale deed?

1. It is better to get the khata transfered as early as possible just for the peace of mind factor and to ensure everything is in your name in the system. And if there are any errors or clarifications asked (very unlikely), you can sort it out easily while everything is fresh for you as well as seller.

Yes, while you transfer, it automatically becomes into an E.khata. No need of (or probably not possible) to get a paper khata in between.

So, when you do #1, the second point is taken care.

[deepak_misra]

Originally Posted by Gotham

Not sure if this is the right thread but I couldn't find anything else.

My Brother & I both own a 1500 soft east facing plot seperately in Adarsh Savana located near Devanahalli. The idea was for both of us to build a house & live next door but he recently secured a PR in Australia & intends to stay there for the foreseeable future.

He now wants to sell his plot & liquidate his investment. I assumed Adarsh will be help to him but turns out they're not allowed to resell ( Bummer )

Is it wise for him to hire a real estate agent instead of posting an ad on Social Media ?

Any suggestions will be immensely appreciated

If there is a community whatsapp group, just post there. This would be the a good starting point. Lot of sales/purchases happen through such channels.

[Capri89]

Report on Average Rent for top cities in India

It is a well known fact that housing rents in different cities of India are not the same and vary significantly.

Even within a city it differs from place to place depending upon various factors like locality, proximity to key public transport, educational institutions etc.

I am looking for a report that essentially captures such rental price differentials and distills it into a composite index figure (or average rent) atleast for the top 10 or 20 cities of India. The index would then be able to reveal how each city stacks up against one another.

One such report is available from Magicbricks. I would like to see atleast two more such reports so that data integrity can be confirmed.

The National Housing Bank (NHB) was supposed to come out with a HRI (Housing Rental Index). But such a report is not available in their site. A HPI (Housing Price Index) is available though.

I tried various other sites like 99acres, Nobroker, Square yards etc. But no luck there. There are reports on the rental increases, citywise, quarterly. But that is not helpful.

Where else can I look ? Any leads/pointers would be highly appreciated.

Magicbricks report attached herewith for reference.

Rent_Index_JAS_2024_new.pdf

Thanks in advance.

[vishnurp99]

I took a quick look at the rents in Bangalore. I had lived in Bangalore some time back. Currently we live in the second largest city in Germany - 20 minutes by ubahn from city center. My rent is around 1.5K E for a 3 BR. I obviously had to pay more than the local who pays anything form 600-1000 E.

Amazed to see the rents at Koramangala and the fact that they are higher than what i pay in Germany whose per capita income is 50K E and PPP income is 72K in one of the more expensive cities there. When I have visited friends even 6 years back - i think the rents were around 30-40K for a good 3 BR.

Not really sure how this will work in the longer term - especially with all the layoffs & recalibration of teams triggered by productivity tools, AI & automation.

[JediKnight]

Originally Posted by PearlJam

Hi, 2 questions for property registration in Bangalore:

1. For an A-khata property, how urgent is it to transfer the khata to your name, after the execution of the sale deed in your favour? Is there a risk in waiting for a few months? There's no near requirement right now for paying property tax - which I understand is the primary reason to get the khata transferred.

2. If I need to get an e-khata, is it necessary to first get the paper khata? Or, can e-khata be generated directly from the previous owner khata + the executed sale deed?

Thanks!

No urgency. But it may be good idea to transfer as soon as possible. You never know if some rule changes etc.

I had khata transferred after several years of registration on top never bothered to pay property tax also. Then suddenly woke up one day got the khata transferred and paid all the pending tax in one shot. Of course there was some fine the quantum of which I cannot recall now.

[Raj1008]

We are discussing a property sale and the payment is by RTGS. However the buyers account is also in the same bank.

The bank says to do an internal transfer and to come to the bank as RTGS is not an option.

My understanding is that the sale deed is signed at the registrars office and the rtgs takes places at that moment. Once that is done, registration occurs right away.

How will going to the bank work in this case?

[deep_bang]

Originally Posted by Raj1008

How will going to the bank work in this case?

In the past, the challengenin doing an RTGS or an online transfer have been:
1. Knowing the limits exactly is sometimes a challenge as the amounts tend to be quite high. But this can be overcome by going to the bank physically. In case of online transfer from account to account also, the limits may be different and it's worth checking before hand on what the limits are. Unfortunately my experience has been that bank folks who talk about limits are also sometimes not very well versed and may talk generic limits and not specific to you account.
2. Not having a transaction number before hand like a UTR number makes it harder to put the exact reference number in the sale deed before hand leaving it to be filled at the time of registration.

For the above reasons I have used a demand draft as a way to get around as you can do all the formalities before hand and you get a DD/bankers check in hand, and also can put in the check number as a reference in the sale deed. The only con is the charge for the DD which make it seems like a waste of money. But some banks have better charges than others and may be worth it. For example SBI charges 2k for even high amounts of 1CR or so - if I recall it right. Please check again for exact charges. Some banks, especially corporate ones also give it for free without any extra charges.

[Raj1008]

Originally Posted by deep_bang

In the past, the challengenin doing an RTGS or an online transfer have been:
1. Knowing the limits exactly is sometimes a challenge as the amounts tend to be quite high. But this can be overcome by going to the bank physically. In case of online transfer from account to account also, the limits may be different and it's worth checking before hand on what the limits are. Unfortunately my experience has been that bank folks who talk about limits are also sometimes not very well versed and may talk generic limits and not specific to you account.
2. Not having a transaction number before hand like a UTR number makes it harder to put the exact reference number in the sale deed before hand leaving it to be filled at the time of registration.

Thanks. Incase we do go to the branch, when/how do we sign the deed? At the branch itself? And then go to registrar?

How does one ensure that the draft is not fake?

I have been out of the country for 25 years and this is all new to me. This is direct deal with a friend of mine and no brokers involved.

[deep_bang]

Originally Posted by Raj1008

Thanks. Incase we do go to the branch, when/how do we sign the deed? At the branch itself? And then go to registrar?

How does one ensure that the draft is not fake?

I have been out of the country for 25 years and this is all new to me. This is direct deal with a friend of mine and no brokers involved.

It's very inconvenient to go to the bank during the registration in my opinion. Some Sub-Registrars like in Bangalore have strict time slots which need to be booked and the registration should be completed within the time slot. Generally most of these registrations happen with an Agent facilitating the whole process. While I am all for a free and fair system, the fact is that these offices do make things very hard and unless you are a regular property dealer its hard to make things work fast.especially if you are constrained for time. I would suggest to engage an agent and ask these questions to that person.

As to verifying the validity of the DD, the usual process is that the buyer gets the DD several days in advance and gives a copy to the Seller. The seller should at the minimum verify that the name/account number on the DD is perfect. Additionally the seller can always go to the issuing bank and verify the validity of the DD. Since it's just a photocopy, there is no way the seller can actually get the money until he/she gets the physical instrument (DD). From this point on, the rest of the transaction will be only at the registration time.

However, I am speaking about what happens in a place like Bangalore and Karnataka in general. Other places may have their own quirks. Please talk to someone from the same place where you are registering to know the process better.

[Raj1008]

Originally Posted by deep_bang

As to verifying the validity of the DD, the usual process is that the buyer gets the DD several days in advance and gives a copy to the Seller. The seller should at the minimum verify that the name/account number on the DD is perfect. Additionally the seller can always go to the issuing bank and verify the validity of the DD. Since it's just a photocopy, there is no way the seller can actually get the money until he/she gets the physical instrument (DD). From this point on, the rest of the transaction will be only at the registration time.

However, I am speaking about what happens in a place like Bangalore and Karnataka in general. Other places may have their own quirks. Please talk to someone from the same place where you are registering to know the process better.

Thanks this is in Mumbai. I have tried to talk to different people and they dont seem to have a clear answer.
Could the buyer leave the instructions beforehand with his bank’s relationship manager and call them to do the transfer once the deed is signed?
I am perplexed that there is no alternative to rtgs for electronic transfer within same bank.

[PearlJam]

Originally Posted by Raj1008

Incase we do go to the branch, when/how do we sign the deed? At the branch itself? And then go to registrar?

The only way to "give using one hand and take using the other hand" - i.e, give money and get/sign sale deed, can happen only with a DD. Someone already mentioned that you can check DD authenticity with the issuing bank, though I'm not sure what happens if DD is cancelled after reporting it as "lost", in the last minute. But that is an extreme case, and outright fraudulent, so we can rule that out.

Any other method, like cheque/online, will involve some temporary risk to either party, depending on who delivers first, and subsequently the other person backs out or there's unforeseen delay/setback.

[androdev]

Originally Posted by Raj1008

Thanks this is in Mumbai. I have tried to talk to different people and they dont seem to have a clear answer.
Could the buyer leave the instructions beforehand with his bank’s relationship manager and call them to do the transfer once the deed is signed?
I am perplexed that there is no alternative to rtgs for electronic transfer within same bank.

If you are the seller, you can insist on RTGS to be completed before registration. Or they can give you copy of DD a day before so you can verify the authenticity of the DD before registration. Seller calls the shots.