[SILVERWOOD]

Originally Posted by creative420

Has anyone here heard of Chowriappa group of builders in Bangalore? I'm interested in their property coming up on Hennur Main road. Do let me know if there's anyone who has booked an apartment here already?

Another question. How do you bargain with the builders about cost? This is the first time I'm buying a house and my first interaction with guys at Purva Midtown was quite amusing. They came down from the price of 1.17crores to 90lakhs without even me bargaining. All I did was not showing him any urgency. I'm sure there are quite a lot of apartments unsold everywhere in Bangalore.

Or maybe I should wait for this bubble to burst. What say?

Chowriappa is relatively new when it comes to Bangalore:They are well known in Goa though.

I dont think purva midtown is a good option as they are known for delaying the possession.I have pinged you my no.Connect with me if you have more queries.

Waseem.....

[creative420]

Originally Posted by SILVERWOOD

Chowriappa is relatively new when it comes to Bangalore:They are well known in Goa though.

I dont think purva midtown is a good option as they are known for delaying the possession.I have pinged you my no.Connect with me if you have more queries.

Waseem.....

Thank you, Waseem sir. Got your number. I'll call you soon.

[ramki067]

Originally Posted by vinay kamath

Scheme to regularise building bylaw violations in 3 months.

Karnataka government will implement a scheme to regularise building bylaw violations and land use in urban areas in the next three months, Urban Development Minister Vinay Kumar Sorake said today.

"The government has submitted the new draft of the Karnataka Town and Country Planning (Regulation of Unauthorised Development and Constructions) Rules 2013, to the High Court. Now the file is with (Chief Minister) Siddaramaiah," he told reporters here.

The Bengaluru Residents Association Confederation Ensemble (BRACE), comprising 750 resident welfare associations, had challenged the 'Akrama-Sakrama' scheme in the High Court in February this year.

Sorake said the scheme seeks to regularise upto 50 per cent violation of setback norms and permissible floor area ratio in residential buildings and up to 25 per cent in non-residential buildings.

"Any violation above this would attract demolition," he warned.

The Minister said lakhs of properties could be regularised under the scheme in various town panchayats, both municipal corporations and councils.

He, however, declined to reveal revenue generation through the scheme.

Sorake also said the government has fixed the cut off date to October 19, 2013 for unauthorised properties eligible for regularisation.

The minister said he had directed Mayors and Commissioners of all urban local bodies to chalk out plans of action for the coming year.

The scheme would offer relief to property owners in illegal layouts and owners of buildings with deviation in construction plans, Sorake said

Hi,

Any update on Akrama-Sakrama scheme?
How to know the high court case number of Akrama-Sakrama scheme court case? So that we can track from below website itself.
http://karnatakajudiciary.kar.nic.in...CaseNumber.asp

Thanks,
Ramki

[vinay kamath]

Originally Posted by ramki067

Hi,

Any update on Akrama-Sakrama scheme?
How to know the high court case number of Akrama-Sakrama scheme court case? So that we can track from below website itself.
http://karnatakajudiciary.kar.nic.in...CaseNumber.asp

Thanks,
Ramki

the Government did not get consent as yet.

[Googleman]

Question: Is it safe to buy a flat with the relatively small builders example "Khan builders" etc.. I am planning to buy a 2BHK in North Bangalore and the budget is around 3K/Sq. Ft. so can't choose big builders as I can not afford them.

Also, anyone can comment on a plot availability in surrounding areas?

[akhil_007]

Googleman,
Nothing wrong in buying from small builders but the following checks needs to be made
1. Property papers
2. Sanction plan- small builders build on smaller plots and not all of them are classified as apartments in legal aspect. Hence you may not get oc,cc etc.
3. Deviations will be pretty high. So be prepared to shell out extra money when it's legalized
4. Common areas will be claustrophobic. This will be a negative aspect when you plan to sell
5. No of parking slots is not equal to no of flats

Good news is if everything check is passed, you have got a fantastic deal.

Please deal with builders directly and not marketing guys.

[Googleman]

Originally Posted by akhil_007

Googleman,
Nothing wrong in buying from small builders but the following checks needs to be made
1. Property papers
2. Sanction plan- small builders build on smaller plots and not all of them are classified as apartments in legal aspect. Hence you may not get oc,cc etc.
3. Deviations will be pretty high. So be prepared to shell out extra money when it's legalized
4. Common areas will be claustrophobic. This will be a negative aspect when you plan to sell
5. No of parking slots is not equal to no of flats

Good news is if everything check is passed, you have got a fantastic deal.

Please deal with builders directly and not marketing guys.

Thanks,
As per the builder, the plan is BBMP approved.

If a Nationalized bank approves home loan, that means the flat is legally genuine? Point 1 & 2?

[nowwhat?]

Originally Posted by Googleman

If a Nationalized bank approves home loan, that means the flat is legally genuine? Point 1 & 2?

This is the biggest mistake first time homeowners make, more so with those who buy flats rather than those who buy houses or land. They think just because the bank gives a loan, that means it is the bank's responsibility to ensure that the documents are genuine.

That is not true at all. The bank simply ensures that the documents are in some basic order so that they can repossess and sell the property in case the lender is unable to repay. Bear in mind the bank will still go after the lender in case it is unable to repossess the property or even if it is unable to recover outstanding loan amount + interest from the auction of the property.

It is your property, therefore you should take pains to ensure that everything is legal and the only way to do it is by consulting a good lawyer who specializes in real estate.

PS: Please also bear in mind that there are many cases where part of a project may be approved by BBMP, but other parts including entire buildings and penthouses may not be approved by BBMP. Builders are even known to construct buildings on areas they have designated in approved BBMP plan documents as a park or a road.

[akhil_007]

Originally Posted by Googleman

Thanks,
As per the builder, the plan is BBMP approved.

If a Nationalized bank approves home loan, that means the flat is legally genuine? Point 1 & 2?

Adding to nowhat's post, plan approval doesn't necessarily mean that the paper's are clean, considering the fact that BDA developed layout on lake bed recently in Gubbalala near Kanakapura road. You're investing your hard earned money, so get the property papers verified with a fine comb from a good lawyer. Typical documents to check are EC, Khata, Mutation(if any), Conversion(if any). Cross check approval in BBMP office as well.

For apartment construction, IIRC, road width must be atleast 40'. Must have RWH facilities and so on.

Legal verification by banks is not binding in any way. It their way of making sure that legal records are good enough for loan disbursal.

Buying an apartment with proper legal records takes time, money and effort. So patience is the key.

PS: Prefer flats with OC and CC as far as possible. I know not many builders have this. But I have seen some beautiful flats with OC and CC.

[nowwhat?]

Originally Posted by akhil_007

PS: Prefer flats with OC and CC as far as possible. I know not many builders have this. But I have seen some beautiful flats with OC and CC.

All good points, Akhil.

I have never bought a flat, but I just remembered that one well-known Indian analyst advises only to buy completed flats. That way, one gets income tax benefits from the get-go (no pre-EMI) and there are no vagaries related to construction or legal documents, i.e., the OC would have been issued by then. He says even if one has to pay a premium of 10%, it is well worth it and contrary to what people think, flats are usually available for sale right after construction as many speculators look to get out.

With respect to my previous post to Googleman, what home-buyers need to understand is that a loan worth say 1 crore is a drop in the bucket for a bank whereas it may be the entire savings of an individual. A loan is only for some 20 years, whereas the individual may live in it for one's entire lifetime and bequeath it to one's children. Therefore a bank will only do so much diligence and it is the responsibility of the individual to ensure that all the documents are in order and not take any unnecessary risks.

Do not even take a builder's reputation at face value. Here in Koramangala, Raheja Altria (behind Spencers) is mired in legal trouble as the top 4 floors have to be demolished since they fudged the elevation of the land to obtain BDA approval despite a height limitation due to HAL Airport. Mantri's construction of a mall at Agara on Sarjapura Road has been stayed and has gone all the way to the Green Tribunal in Delhi since they have built on traditional rain water channels to Bellandur lake.

[Googleman]

Thanks again to the gentlemen providing some insight on this matter.

Problem is, the flats providing OC & CC are mostly beyond 40L(My budget). Some which are ready to occupy from builders like DX MAX are way too claustrophobic.

Moreover, these builders only agree to hand over documents for checking after making some advance amount. Is this normal? I doubt I have the source and power to get back my money from these builders.

[girimajiananth]

Can anyone guide me on paying property tax in Bangalore ? I don't think I have paid property tax for a while now . Earlier my father used to take care of such things and over the years he has grossly neglected it . What would be the fine if I have not paid the property tax for a couple of years ? . Will Bangalore one accept the tax even if I do not have the receipts from previous years ?

What is the procedure to get all the property papers like 'A Khatha' and 'B Khatha'?

[SILVERWOOD]

Originally Posted by Googleman

Question: Is it safe to buy a flat with the relatively small builders example "Khan builders" etc.. I am planning to buy a 2BHK in North Bangalore and the budget is around 3K/Sq. Ft. so can't choose big builders as I can not afford them.

Also, anyone can comment on a plot availability in surrounding areas?

Dear Googleman,

The problem with smalltime builders are plenty.

1,If it is a JV with the landowner, chances are more that the project may run in rough waters

2,Securing Bank loan will be a problem,nationalized banks to be precise.

3,Delayed Possession:A small time guy took 7 years to build 30 apts in my area.The owners had to shell out extra $$$ during possession as well.

4, Small time builders deviate big time (read pent houses on top).Never ever will they get an OC.

5, The quality of construction is not assured.


Please call me if you have more queries.Have pinged you my no.

Waseem.....

[akhil_007]

Originally Posted by nowwhat?

I have never bought a flat, but I just remembered that one well-known Indian analyst advises only to buy completed flats

Originally Posted by Googleman

Problem is, the flats providing OC & CC are mostly beyond 40L(My budget). Some which are ready to occupy from builders like DX MAX are way too claustrophobic.

Moreover, these builders only agree to hand over documents for checking after making some advance amount. Is this normal? I doubt I have the source and power to get back my money from these builders.

I second nowwhat's statement. I had seen close to 50-60 apartments and was offered a fantastic deal on a completed apartment with OC and CC + price was 20% less than market price then. Why? Builder had mostly investors, not buyers. I did not buy it though(story for some other day).

Googleman,
Lets say your budget is 40L and a legally proper flat is 55L. Would you buy a 40L suspect flat and God forbid, get tangled in a legal mess years later OR prefer taking extra loan to afford a 55L flat? If legal complications arise, you are on your own, your flat is not yours and you lost your 40L for nothing.

I m a bit conservative when it comes to buying flats. My friends have bought flats without CC also. 99% builders I have met have told me "Nobody will give OC saar. Its fine. Akrama-Sakrama is there anyways". But your hard-earned money cannot be risked on a mere speculation. Better to err on the side of caution.

I have seen few DS-Max apartments. They are a weird company actually. They do turnkey projects(start to end owned, managed and sold by them), market other flats using their brand name and sell their share in a JD. I have found turnkey projects to be the best from them. Common areas are spacious and plans are good.

Advance Money for property documents is a common practice. Though I admit,getting back money is not as easy as giving it. You have to Negotiate for a refund

[nowwhat?]

Originally Posted by girimajiananth

Can anyone guide me on paying property tax in Bangalore ? I don't think I have paid property tax for a while now . Earlier my father used to take care of such things and over the years he has grossly neglected it . What would be the fine if I have not paid the property tax for a couple of years ? . Will Bangalore one accept the tax even if I do not have the receipts from previous years ?

What is the procedure to get all the property papers like 'A Khatha' and 'B Khatha'?

No problem. Just go to your local BBMP office and they will calculate the outstanding property tax and penalty. Penalty, interest and even property tax in Bangalore are quite paltry though you will have to pay it all in one shot. BBMP folks are usually nice and will not trouble you for the delay which unfortunately is a common occurrence in Bangalore. You can even return whenever you have made arrangements for the money.

BBMP will not let you pay the current year's tax unless you have paid the arrears. Previous tax receipts are not required to pay arrears and they will calculate the exact amount. BBMP sure as hell will accept any extra money right now and will not harass you.

If the property tax hasn't been paid for only the last 2-3 years, then you can check the outstanding online on the BBMP portal and pay via credit card. Please go to BBMP instead of Bangalore One as the latter is the same as doing it online.

A khatha is the real deal, B khatha is an artificial construct. You apply for the latter if you are not eligible for the former especially if the property is not on residential land. Khatha, encumbrance, etc. can be got from the sub-registrar's office, though I doubt you can get the original purchase documents from them.