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Hi fellow members

need your valuable inputs regarding a 30x40 site (resale) in Nandanavana layout... the offer was 750.....wanted to know if the place is good or worth investment 2-3yrs down the line, does any one know if the seller or buyer have to procure NOC from Nirman/developers or anyother hidden costs/things that seller may have missed.

any pros and cons about this layout is highly appreciated.

Thanks to all
-Raghav

Dear members

any inputs,suggestions, advises are greatly appreciated. please help me take a decision.

Thanks again,
-Raghav

nirman shelter is a genuine developer. they are very clean in papers and also they provide good amenities in all their layouts. For any resale in their layouts, getting NOC from them is a must.

Regarding the price, there is no definite criteria. as it depends on many factors like the exact location of the site in the layout, direction, dimension...etc. if it is one shot cash transaction, maximum u can bargain for 10% discount from his quoted price. not more than that.

Everything is fine but 750/- is too much and secondly the location is very remote.

Remember in real estate investment, the top three criteria to consider are Location, Location and finally Location.

Thank you guys for your responses...i have not still committed to it and in the process of doc verification..... though like you said NIrman is very popular and should be clean, the lawyer while checking the docs said the BMRDA approval docs did not have the site #s. the lawyer says that BMRDA approves only after the plots are numbered....the lawyer called up and checked with Nirman as well and according to them,BMRDA did not have such criterion back then for approving the layouts.
is it true?is it normal? Does Nirman provide any additional doc from BMRDS with this regard? any solution? or just drop this deal.
what lawyer says is even if we go ahead and purchase, the banks might object for the same while applying for house loan and also incase if i want to resell in the future.

pls advise

Thanks again for all the advises
-Raghav

as pr my knowledge the approval is for the area which consists of all the necessary amenities, like the roads, drainage system, park, ...etc. So approval for individual site nos is not there. ex, if a developer applies for approval for the total layout approval for 15 acres. the development work will be in progress through out the area. But they will get approval in multiple stages, say for 6 acres in first round and 4 acres in the next round...etc

so what you need to confirm is whether the site you are interested belongs within the approved area. One of their project was done during 1996 period. that time BMRDA was not at all there. So this kind of specific legal points, Nirman has clearly mentioned in their website and also happy to assist with your lawyers and they are very transparent in such matters.

regarding the resale NOC, you can refer their website.http://www.nirmanshelters.in/Adviceonresales.htm