Real hard facts for buying Plot in Bangalore

[mybdaprop]

Hi All,

I would like to tell all the bangalore property aspirants some hard facts that one should consider before blindly buying Plot in blore... This is out of my 2years property search in Blore on all Possible areas in blore...

Important facts to consider while buying Property in Blore..

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1. Never ever buy BBMP B Katha Site,

BBMP has two registers in BBMP Office, all the plots/Layout which has official approval from BBPM will be treated as BBMP A Katha and natinalised bank will provide loan for these plots...

All illegal / unauthorised private layouts which has not got BBMP approval are listed in "B" register in BBMP Office, there is no KAtha called "B" Katha, this is the official wordings from BBMP Corporate office,

if you want to self check, take the so called "B" katha document to get loan from natinalised bank, they will reject your loan strait away... Buying "B" katha site is your own Risk

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2. Never Promote Black Money transactions in Real Estate... (Ask Agents to show owners who want atleast 70% or more white money, to be on safer side)

ASsume if I am buying a BDA Site in Banashankri 6th Stage BDA LAyout, the owners will quote 3500 to 4000 Rupees/Sq ft, but the agreement value will be for only 15 LAkhs for 30 x 40 Site..

Rest of the money you will have to pay buy cash as black money, and doesnt not carry any agreement for black money, there are big cheates and land grabbers will make use of this black money

transactions to mislead the techie's or hard earned salaried proffesionals , simple myth is how can to trust a unknown owner by paying hefty 70% black money with out any transactions proof..

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3. Never ever make any transactions for Plot with Agent who has put up agreement with Owner... (Find out real owner in 99acres, magicbricks etc who advertise their proerty as direct owner)

eg: I have seen one site in KAnakapura road Judicial layout and shortlised it, but later i found that i need to make all transaction with agent who has put up agreement with owner... and he will show the

owner only during property registration...

The Agent has made agreement saying he paid one lakh as token advance for 30 40 plot at 3000 Rs/Sft and will clear remaining amout in 3 months... during this 3 months he will be searching salaried

bakras like us who desperately want to buy some property in bangalore.. with the help of that agreement now he has become proxy owner and quoting the plot rate at 4000 Rs/Sft...

Its my humble request to all blore property aspirants that please dont make any transactions with these type of Agents who artificially inflate property prices and make the hard earned salaried

proffesionals into trap for over priced property prices and struggle repay loan for 20+ long long years.....



Tips:

1. Do direct transaction with Owner (find direct owners in property sites 99acres, magicbricks etc, you can take help of locaL agents but clearly mention you need direct owners who preffer at least 70% white money)...

2. Buy plot only if it is BDA or BBMP A Katha and which gets loan from Nationalised bank...

3. Verify the original idententy of the person deeming as plot owner by verying the Photo Identity Card in original before making any transactions, as there are lot of mid-man and proxy owners

3. Take legal opinion from reputed Property lawyer by paying some 5 to 10K fees...

4. Never ever buy BBMP "B" katha as it is Bogus KAtha and there is not physical existence of "B" Katha

5. After you buy your plot make fencing and mention board as "Not for SAle" and try to construct home in couple of years to avoid malformed property transactions from junk land grabbers..


I hope the above information is usefull for all property aspirants and lets unite together to bring down artificial property scarcity and bring down property prices to make it affordable to common salaried proffesionals family... by doing transactions only with direct owners and please dont entertain midman in property transactions who artificially infalte prices....

[rajuraikar]

great tips mybdaprop

[bda_xvz]

Great post Brother!
We should keep this in mind all time.

[namburi]

Good observations...everyone should follow this unless they are not worried about their hard earned money .

ADMIN

[Prashanth36]

Good suggestions...

Even I faced these problems... Later i got stick on to BDA plot because of bank loan...

And also refused to pay black money to owners since i was having need of 75% of money and bask is going to fund 75% on registered value ( only duestche bank going to provide this back money also , no where we can trust these guys )

Also finalised one property in SMV and later came to know he is agreement holder. I finalised it for 2250rs/sqft. But later able to find the owner through registration xerox copy. Agent has paid 5 lakh and entered into agreement @ 2000 rs/sqft. Agent is getting 2,70,000 without any effort. we should stop encouraging these fellows.

[mybdaprop]

Please invite all your friends/family/relatives to see this blog, who are actively searching plots in bangalore to bring them awareness, we all are educated proffesionals ...

And strongly all should decide to avoid midman, proxy owners, agreement holders, black money, "B" Katha out of any property transactions and bring down the artificially inflated prices in blore...

[hkrish]

Folks,

Does anyone know HOW the B-katha plots are getting created ?

Most obvious answer would be as part of city expansion, BBMP area limits are expanded and naturally many plots which were
part of Panchyat region, get included in BBMP zone. Such plot/land owners pay betterment and get Katha, until then it remains as
B-katha (ie,. they dont get katha).

But above is not always true, daily day-in-and day-out B-katha properties are FRESHLY CREATED, by smart developers, who
are using a loop-hole as discussed here:

Subject: A khata for Layout but not for Individual sites
http://mybdasites.com/viewtopic.php?f=33&t=2497


Regards
Hkrish

[panandh]

There is nothing like a B-khata from BBMP. It is a fake document, created by bribe taking officials to help these developers.

As per my understanding, they collect taxes on B-register, a separate register other than normal register associated with khata

[hkrish]

I meant B-katha plots (or rather you wont katha), for those. In interest of saving typing space, i mentioned B-katha, everyone by now in this forum knows
B-katha means No-Katha.

[mahendrakara]

thank u for sharing ur valuable experience.. would be great if other members can share such exp too..it will be very helpful for newbees like me