Kanakashree layout, Hennur

[Suresh Heggade]

Sir/Madam,

This has reference to your query on the title of the property and other details of the layout. Both the layouts Phase-I(Byrathi) and Phase-II (Kannur) are BDA approved and Katha is issued by BDA. Also, the tax is paid at R.T. Nagar BDA office. The Phase-II was approved by BDA as per S.No. 1226 dated 12.02.2008 and I do not have approval number and date for Phase-I and the same can be verified in BDA web site. As such, one need not worry about the title.

Phase-I may be nearer to ORR but if you compare with Phase-II, I prefer Phase-II because of the following reasons.

1) Street roads are wider ranging from 40' ft to 60' ft.
2) Nearer to approach road (100 ft road).
3) Many approach roads for BIA via, Kogilu, Thanisandra, Bagalur, ORR, etc.
4) Villa houses are coming up exactly opposite to this layout price ranging from Rs.1 crore to 1.5 crore and hence good appreciation is expected for phase-II. Also, Salapuria is coming up with big apartment near Gubbi circle and Sobha Apartment and Villas at the end of Thanisandra -Kogilu link road.
5) Good educational institutions are nearby (Engi. College, Nursing College, Purnapragna School, etc.).
6) The locality is peaceful and calm.

I was told by the developer Mr. Basavaraj that there is no site for sale in Phase-I at present, however brokers may be contacted for inquiry. The going rate in Phase-I is from Rs. 2500/- to 2800/- per. sq.ft and in Phase-II it is from Rs.2300/- to Rs.2700/- per sq.ft. This rate compared to M.S. Ramaiah layout (which has no BDA approval) on Thanisandra Road (Rs.5000/- per sq. ft) and Manyata Layout (Rs.6500/- per. sq.ft), this is cheaper. The Kannur Kanakashree Layout is fast developing and already 4 houses have come up. As Mr. Gopinath correctly said there will be some initial hiccups when the layout is coming up and I do not see any problem once houses are built up in there.

Suresh Heggade.

[Iswear]

Hi Mr. Gopinath

I have been wanting to buy a site at Kanakashree Layout and I finalized on one site. This is in the 'Part-1' as shown in the BDA approved Layout plan.

My lawyer has given a big list of documents needed, mostly parent & title documents. But the person who is selling the site to me is saying that he is not in possession of all these documents and has given me a book which has copies of the documents he is in possession now. Though it has a lot of documents, it definitely does not cover all the documents my lawyer has been asking for!

Since you have already bought a site there Mr. Gopinath, I have a couple of queries

1) Were you able to get all the documents for the layout?
2) I am planning to buy a bigger site, which I might either use for my own house construction [OR] I might have some apartment constructed in the future. I wanted to know would it be possible to get permission/plan sanction for apartment construction?
3) Did you go for a bank loan Sir?

The seller keeps on saying only one thing that since this is BDA approved layout, I can be rest assured about the legalities. Maybe he has a point, but then I have to listen to my lawyer and go ahead with his advice. And at the same time I don't want to lose a site in a good layout like this, so I am in a complete fix

Any help regarding the documents in your possession regarding 'Part-1' would be greatly appreciated

Thanks
Pavan

Hello All,

Firstly I would like to thank our forum Advocate Mr. Muralidhara. I did my property legal opinion, sale agreement & deed drafts with him. He was very co-operative and very knowledgeable. He is open to discussions/suggestions. In a nutshell, I strongly recommend him to all our fellow MBS (MY BDA SITES) folks.

Sorry for a delayed response. My deal was for Rs. 2200/sft. These days the negotiations with broker/owners start at Rs. 2500/sft and actually settle between 2100 to 2300, based on the direction of site facing, actual site location etc.

I will also share a couple of insights into the Kanakashree layout setup. The total layout has been made on 62 acres of converted land. And the BDA approval was obtained on a joint agreement between Kanakashree Housing Co-op Society, BLR and Mr. Basavaraja who is the developer of the layout and the actual land owner too.

Hence as per their agreement, a good 60% of sites come under the society's ownership, which are allotted to its members. The remaining approx 40% is Basavaraja' share. These figures are excluding parks & common areas. The society's share is called Block A and the other is Block B.

I purchased it through a vendor who had inturn purchased it from Basavaraja some time back. And the deal was brokered and i paid 1% + 1000 bucks to the real-estate agent.

The biggest drawback in this layout is that the sellers want almost all black i.e. govt guidance alone in white and remaining from your pocket. And some deals are for a 50-50 split where 50% can be white. Also there are deals where you pay some fixed amount like 15lacs or so in Black and rest in white. Fortunately for me, my vendor accepted for a 75%-25% deal where 75% is white from bank loan and ofcourse the remaining from my pocket.

Be aware, the current govt. valuation is at Rs. 180/sft. I registered my site in end of july 2011 and i saw a notification at the SRO, Bidarahalli that the govt valuation is pegged at Rs. 600/- and will be in effect quite soon.

Please feel free to ask for more details, if i can help.

Chrs
Gopinath

[Iswear]

Hello Mr. Suresh

Could you please tell me in which part do you own this site? - Part-1 or Part-2?

I am currently looking at a site in Part-1 which I am planning to buy, but not sure if I have the complete set of documents to proceed.

Also I wanted to know if there is a possibility of constructing apartment in this layout? (Assuming I can get a big site)

Thanks
Pavan

I know Kanakashree Layout on Hennur -Bagalur Road near Kannur. Myself, I am having 40X60 site in that layout. It is a BDA approved layout with BDA katha and possession certificate from Kanakashree House Building Co-Op Society with all clearance papers. It has all basic amenities like tarmac road, water connection, sanitary line, electricity polls, big over head tank. All the sites were allotted to the members of the society. You can buy only from the allotees. The present going rate in that layout is Rs.2000/- to 2100/- per Sq. Ft. As Hennur Bagalur Road is going to be used as a Cargo Road for BIA, there will be a lot of appreciation for these sites in that area. Please note that I am not selling my site.

[LNG]

Hi Mr. Gopinath

I have been wanting to buy a site at Kanakashree Layout and I finalized on one site. This is in the 'Part-1' as shown in the BDA approved Layout plan.

My lawyer has given a big list of documents needed, mostly parent & title documents. But the person who is selling the site to me is saying that he is not in possession of all these documents and has given me a book which has copies of the documents he is in possession now. Though it has a lot of documents, it definitely does not cover all the documents my lawyer has been asking for!

Since you have already bought a site there Mr. Gopinath, I have a couple of queries

1) Were you able to get all the documents for the layout?
2) I am planning to buy a bigger site, which I might either use for my own house construction [OR] I might have some apartment constructed in the future. I wanted to know would it be possible to get permission/plan sanction for apartment construction?
3) Did you go for a bank loan Sir?

The seller keeps on saying only one thing that since this is BDA approved layout, I can be rest assured about the legalities. Maybe he has a point, but then I have to listen to my lawyer and go ahead with his advice. And at the same time I don't want to lose a site in a good layout like this, so I am in a complete fix

Any help regarding the documents in your possession regarding 'Part-1' would be greatly appreciated

Thanks
Pavan

Hi Pavan,

Good to know that you have finalized on a property in part-1. To my knowledge, part-1 should be even more dependable owing to the fact that it was directly allotted by the society to its members. And only resales are happening.

I very much have a home loan running on my property in part-2 from AXIS and like i had mentioned earlier, the forum advocate Adv. Muralidhara also gave his detailed legal report and approval for buying that. All the necessary documents required by the bank's panel advocate and Mr. Muralidhara were very much available in the big sprial binded document set that the seller gave me. I only had to get ECs extra.

Coming to the building plan approval, I guess, that shouldnt be a problem. From the houses that are being constructed, 1 is very much like a builderfloor apartment. Though the owner has no plans for sub-selling floors/units, rather leave it for rent. Also taking reference to MS RAMAIAH North City layout, which is also a privately layout approved by BDA, there are apartments which have been constructed and they would have got approvals obviously.

Good luck!

Chrs
Gopinath

[LNG]

Hello Mr. Suresh,

I would like to know a couple of things

1) I recently got the Khatha transfered in my name from RT Nagar BDA office and have paid the Tax along with the process. When i tried to see whether i can pay tax online, through "http://ops.bdabangalore.org", i find that for my site number, the actual owner information shown is different. I think by default the system takes only part-I sites. Since mine is in part-2, do you know how I can mention that and access my property via this website for future tax payments? Also i checked to see that the site owner's property ID shown from part-I is different from my site's propety ID mentioned in the Tax paid receipt.

2) Since i purchased my site in part-2 from a re-seller and not directly from Mr. Basavaraja, i have not been given the membership card, which these days are being asked for entry into the layout by the gate man. Do you know how i can get the membership card for this layout from the society or Mr. Chandra / Mr. Basavaraja?

Please advise.

Chrs
Gopinath

[Suresh Heggade]

Mr. Gopinath,

I do not know about online payment of tax. I believe, BDA would not have updated the data in their system and hence you may approach R.T. Nagar BDA office once for assistance.

Gate man has no business to ask you about your membership as you are a owner of a site in that layout. Card is applicable only for first allottees at the time of formation of housing society. You may tell him that you are owning a site in that layout.

With regards,

Suresh Heggade.

[LNG]

Hello Suresh,

Thanks for the details. I have tried telling the gateman that I am owning a site. But he has all the time asked me to callup Chandru or Ganesh to seek permission. I think this is put up by Basavaraja for some reason. But i dont know any of these people.

For the BDA tax thing, I will check with the office people there. Thanks!

Chrs
Gopinath

[Aruna]

Hello All,
I too aam interested in buying in this layout. So I need to look for plots in Part-1 right ?
Please provide me with some reliable brokers to contact.

Thanks,
Aruna

[LNG]

Hi Aruna,

Part-1 or Part-2 should not be a problem. You should rather look for a site and location you would like, given the availability.

I have provided some brokers' info in one of the previous threads. plz. refer.

Chrs
Gopinath

[Iswear]

Thanks for your reply Mr. Gopinath ... The Seller has finally agreed to procure all the documents related to the survey number.

We have agreed upon a tentative date sometime next week for registration. Hope all goes well

Regards
Pavan