Kempegowda layout notification

[raghu_pro]

Hi ,

Kempegowda layout notification attached,

5000 sites in phase 1.

[awin]

The list price works out as Rs 2000 psft for 30x40, Rs 2250 psft for 60x40 and Rs 2500 psft for 50*80. I really wonder whether public will apply at such exuberant prices for that location off Magadi Road/Mysore Road segment. It'll be really interesting to see the outcome in terms of the applicant turnout.

What do you folks think on the price?

[rannem]

Given the current situation in bangalore, it is extremely difficult to find a site at these rates. It is definitely on a higher side, but wondering it would be a safe bet for an investment purpose.

Any thoughts.?

[raghu_pro]

i think Rs 2000 psft is toooo high,
KHB allotted sites for Rs 950 psft near chandapura 3 years back.

KHB also given 40% sites to land losers,

So why BDA charging more than 100%?

BDA behaving like private developer.

[duffyhair]

anyhow, this layout would become one more real estate shops hub..
I feel that charging 2000 is correct since it will deter the investors and really serious people would go ahead for allotment..

[nbp]

I think there is a lock-in period of 10 years.... where allottees can't sell the site before 10 years... i hope experts can share their thoughts on this...

[pvn]

Not sure if this is true and if we are missing something here. The below article indicates that the interest levels are high:

Rush at banks for BDA site applications

http://www.deccanherald.com/content/509 ... tions.html

[veena1980]

I have two queries regarding the Kempegowda layout notification
1) By when can we expect the allotment to happen as in how many years/months later
2) What if I do not want to register the allotted site due to financial constraints, would the initial amount be refunded or would I lose the initial amount.

[bhr2009]

@veena1980

1. Going by the History of Arkavati layout, you can not predict 100% about allotment time. But hopefull, because of favourable compensation agreement with farmers, the land acquisition related legal issues may be less.
2. I think if you don't accept allotment, even the initial deposit will be forfeited. Please confirm it elsewhere.
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To all of you here:

The eligibility to apply : Going by the words in the eligibility clause, does it mean "house/sites allotted by any government housing boards" or owning a site/house in Bangalore in any manner will disqualify one from applying ?

Thank you

[ranahosur]

if you cannot register the property, approach a reseller