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Hi All,
I am looking for a site in Sarjapura Road and came across a lay out (country side) just opposite to Sunny Brooks in Sarjapura Road. This lay out is right in the Sarjapura Road, near to Rainbow Drive.
This is an old layout, (formed apparently in the 90's) and comes under the Panchayath Jurisdiction. It has DC conversion, but the Khata and other documents are from the Village Panchayath.
Here are my questions:
[*]Is it okay to buy the land with the above legal status?
[*]Do you foresee any potential issues with this set up?
[*]Do you know if any banks provide loans for purchase/construction of this land?

Any help with this regard is highly appreciated.

Hi All,
Any thoughts on this? Any help with this regard will be highly appreciated.
Regards,
Abhilash

Hello
You can buy. No problem with the current status. Even it was only in gram thana limit also that is safe. But don't go for any layout which is not coming under any limit. That is unsafe.

In this case DC is only domestic conversion but not residential conversion. For residential conversion, the land must be identify as yellow zone by government. That land was previously in green zone so got only DC. In this case you will not get loan at all. Even if loan is possible that will be a back-door/under-table work. You have to purchase by full cash. Later on when this layout will come under BBMP limit, you will get A Khata but you have to apply for that and pay betterment charges. That time your site will be in great value. You will get all features and facilities like BDA plot. You will get loan also from any bank without any hesitation. You yourself can apply for loan easily to construct house.

Also check land papers. Whatever they say but you should be in your position. Check about tax paid issues also.

What is the current running rate p.sqft.. ? To what extent can we negotiate?
Are 30x40 plots available ?