[night_eagle]

I have an apartment flat in Noida that I want to sell. The problem is I am based in Bengaluru and have no relative/friend living close to the property who can show the flat to prospective buyers on my behalf. I am wary of handing over my house keys to some random property agent. So, I can think of two possible solutions and would appreciate inputs from fellow BHPians.

1. Availing Nobroker's premium service in which they can show the property on my behalf. Anyone here has experience with this service? Are these guys reliable because they do charge a pretty penny?

2. Installing a password protected lockbox next to the entrance doors and asking the visitor to self check-in and do a flat tour. I am worried about a situation in which the visitor "forgets" to keep the key back in the lockbox creating unnecessary hassle for me.

Any alternative suggestions are also welcome. Thanks!

[bblost]

Originally Posted by night_eagle

Any alternative suggestions are also welcome. Thanks!

I have a MYGate smart lock on my apartment door.

It works without wifi.
To unlock the door, we can use the RFID tags, Fingerprint, Number code.

These can also be one time number codes or with an enddate on them.

When we travel out of the city, this lock helps hired help to clean up the kitty litter box and feed them etc.

MyGate also has wifi enabled locks. These allow a lot more control via the app from far away.

There are other products as well, which you can find on amazon etc.

But remember, a "bad" person who has unlocked the door can remove the lock in less than 5 mins and take over your house.

So its best if you use a more professional service for peace of mind.

[ashis89]

Originally Posted by night_eagle

1. Availing Nobroker's premium service in which they can show the property on my behalf. Anyone here has experience with this service? Are these guys reliable because they do charge a pretty penny?

We have used their premium services a few times in the past 5 years, not to sell a property but to rent our place. We have also availed it as tenants while house hunting. The experience has been professional and good, the latest being a month ago.

We also noticed that prospective tenants also prefer NoBroker and we have received genuine good leads.

That said, there are several cons too. Their UI and workflow is bad.

They introduce a RM and then an agent so you are not bombarded by prospective enquiry calls. So even if you want to talk to a prospect, negotiate and close a deal, the middle men can be a major hindrance.

The agent/RM might try to influence you to under-quote or agree to a low quote so they can close the deal ASAP. You have to remain firm and make your stance clear. Ask them not to interfere in pricing or ever negotiate on your behalf.

[Aviator_guy]

Any recommendation of a lawyer in east Bangalore (Whitefield, Marathahalli etc) who can help with legal verification of property papers?

[ajmat]

Originally Posted by Aviator_guy

Any recommendation of a lawyer in east Bangalore (Whitefield, Marathahalli etc) who can help with legal verification of property papers?

Vivek Britto - based in Indiranagar near BDA complex, walkable from the metro station

080-41481782

[ghodlur]

Anyone know how do I get the Encumbrance Certificate (EC) for a property?

Also the eKhata certificate for the property does not mention the building name, rest all facts like flat, location etc are all mentioned and correct. Would this be an issue?

[vaibhav_a_a]

Originally Posted by night_eagle

Any alternative suggestions are also welcome. Thanks!

Just so you know, in Noida, the following steps will be required after you have a verbal commitment from the buyer -

1. Payment of ''token'' money.
2. Preparation of Agreement to Sell (ATS), signature and 10% advance. The ATS is on a stamp paper and the usual practice is to take an advance.
3. Clearance of any society dues and NOC issuance (most societies charge some money for this especially if RWA has been formed, otherwise, the builder may take a charge)
4. Transfer of Memorandum issuance by authority (an in person visit of both buyer and seller is needed) - the authority charges the buyer in this case
5. Registry and final payment to you - again the authority charges the buyer the necessary stamp duty, registration charges etc.

The time taken between 1 and 5 is typically 45-90 days.
The time taken by authority to give the TM is 7 working days.
The time taken, if any loan on either side, is additional and may not add to the total time but will require effort.

It is therefore difficult to work without a broker or similar agent after the ''showing'' is complete especially if you are not local to Noida and able to visit notary, e-stamp vendor, authority, building etc.

I had extensive discussions with Nobroker regarding assisting in the above steps for my own apartment that I wanted to sell , but they refused to assist with ''legal paperwork'' and ''dealing with authority'' and therefore was forced to engage a broker.

cheers.

[night_eagle]

Originally Posted by vaibhav_a_a

I had extensive discussions with Nobroker regarding assisting in the above steps for my own apartment that I wanted to sell , but they refused to assist with ''legal paperwork'' and ''dealing with authority'' and therefore was forced to engage a broker.

cheers.

All my focus has been on getting the possession as soon as possible and then finding a buyer. Didnt realise that completing the sale is another uphill battle. Many thanks for sharing these important details.

I have a follow up question - Is there a need to engage a lawyer to vet the ATS or the agreements are more or less standard and the one arranged by the broker is adequate?

Finding a reliable broker who can get the job done in Noida is a big challenge since I have never lived in the area. Would it be possible for you to share his/her contact details and the charges for this service? Pls send a PM if that's more convenient. It would be of immense help. Thanks!

[vaibhav_a_a]

I've sent you a PM. To answer your other question, I did not engage a lawyer for ATS. I did go through it and had the language amended to suit me wherever I felt it wasn't OK by me. You could engage a lawyer if you like - basically you get what you pay for. So if you want to feel ''safer'' its better to get a lawyer.

You'll still have to come down for a few days for the final sale - TM and Registry - so plan for that.

[NPV]

Originally Posted by ghodlur

Anyone know how do I get the Encumbrance Certificate (EC) for a property?

You can get it from the online portal Kaveri online
Link

[Aviator_guy]

Wanted to share a pleasant experience (for a change) with BBMP e-khata (Bangalore Municipal Corp). Ever since the state govt announced online option to get ekhata for the properties, I have been thinking of applying one for my flat. Govt has been advertising that process is completely online and no need to visit any office or take any agents help (aka pay bribe). I took it with a pinch of salt, considering the level of corruption in registrar offices in Karnataka and presence of agents everywhere. However, couple of folks in my apartment complex took the plunge and with minor hiccups, they were able to obtain the ekhata. Eventually, I gave in and decided to give it a try. I already had physical khata which I obtained few years ago thru an agent who charged some facilitation fee (anyone's guess what it was for). Anyway, this time I was in no mood to pay anything extra, decided to apply online by myself. With the help of fellow residents who were familiar with the process, I applied using information in my sale deed, property tax receipt, electricity bill and online aadhar verification. Also, I had to upload a picture of front view of the apartment which I got it from Google. There were some tricky fields about the property area, parking area, owner undivided share etc which I extracted from sale deed and property tax receipt. One has to be careful about the units and not to mix up sq m vs sq ft. After spending an hour or so, I could successfully submit the form. It generated a PDF which mentioned that application would go thru ARO approval. I heard that, for some people where there is no mismatch in names etc, one can download ekhata instantly. However, since my case was referred to ARO, I had no option but to wait. I was prepared to make a visit to the BBMP office for follow up after 10-15 days (as per feedback I got from my friends). But to my surprise, my application got approved within 3 days after submission and today I successfully downloaded it by paying a fee of 125 bucks. Never before in my life in Bangalore, I was able to get govt work done so fast, seamless and without involving middleman. So glad to finally get my hands on the ekhata!

[Chasing_Dreams]

Dear Members,

I am planning to purchase a residential plot in Mysore with the intent to construct a house within the next 3 to 5 years and eventually settle down there. I quite like the city, but as I am not from Mysore, I am unsure where to start. Given my budget, I may not be able to afford a plot in the older, established layouts, so I am considering properties in newer layouts that are likely to become developed and habitable in the next few years.

With so many new layouts coming up, it quite confusing to decide where to invest. I would appreciate recommendations on layouts that are closer to employment hubs, offer good rental potential, and are reasonably connected to the Mysore-Bangalore Highway for better accessibility. My preference is for areas with basic infrastructure already in place and some houses constructed.

I would also be grateful for any leads on reliable and trustworthy brokers or developers who can help me find the right plot. Looking forward to your valuable suggestions and advice.

[GutsyGibbon]

Originally Posted by Chasing_Dreams

With so many new layouts coming up, it quite confusing to decide where to invest. I would appreciate recommendations on layouts that are closer to employment hubs, offer good rental potential, and are reasonably connected to the Mysore-Bangalore Highway for better accessibility. My preference is for areas with basic infrastructure already in place and some houses constructed.

In my observation, Mysore has not seen employment hubs develop like Bengaluru. I think that is the charm of Mysore. I have heard that the Infosys campus, is a training camp. There are a couple more, but its not even close to what you see in IT hubs. If you are thinking of moving and then looking for a job, (if in IT) you may end up commuting to Bengaluru. Everyone knows about the joys and pains of travel to and from Mysuru.

I like all the layouts on the ring road. Vijayanagar, & JP Nagar as decent retirement destinations.

[Chasing_Dreams]

Originally Posted by GutsyGibbon

In my observation, Mysore has not seen employment hubs develop like Bengaluru. I think that is the charm of Mysore. I have heard that the Infosys campus, is a training camp. There are a couple more, but its not even close to what you see in IT hubs. If you are thinking of moving and then looking for a job, (if in IT) you may end up commuting to Bengaluru. Everyone knows about the joys and pains of travel to and from Mysuru.

I like all the layouts on the ring road. Vijayanagar, & JP Nagar as decent retirement destinations.

Valid point. However, my intent is not to move there in search of a job but to eventually settle down once my future is secure. I mentioned proximity to employment opportunities for two reasons: it increases the potential for property appreciation, and we can never predict the future, so being close to such opportunities could be beneficial.

As you said, I am indeed smitten by Mysore's charm.

That said, Vijayanagar and JP Nagar, or for that matter, any of the older layouts, seem well beyond my budget at this point in time. They are almost as expensive as properties in Bangalore, which doesn't make financial sense from an investment perspective. I am looking for a value investment with better future potential since I still have a few years before I can actually settle down. Since you mentioned layouts along the ring road, could you suggest any that are still upcoming, reasonably priced, and habitable? Thanks!

[GutsyGibbon]

Originally Posted by Chasing_Dreams

They are almost as expensive as properties in Bangalore, which doesn't make financial sense from an investment perspective. I am looking for a value investment with better future potential since I still have a few years before I can actually settle down. Since you mentioned layouts along the ring road, could you suggest any that are still upcoming, reasonably priced, and habitable? Thanks!

I have a different perspective on investments. Upcoming, new layouts from cooperative societies, and such with future promise are risky. With respect to papers, and clearance. There is no such thing as a great investment that's a secret, secret value investment - that nobody knows about. It goes against the interest of the people in the layout to keep their potential value a secret. In today's economy, there are a million people who want to invest. Things may be relatively expensive because they are clean, and seen to have future potential. I would scale the size down from a 60x40 to a 30 x40 or even a 30x 20 in a great area, great location close to the ring road. If you talk to the brokers, they will promise you USA is building Indian branch of White House in front of Kukkarahalli Kere. I would tread with caution with respect to all the stories about future potential. But, solid plans such as a ring road under development, is a fact that you can see, one that you can trust will increase future value.