Help on buying site(BDA Employees Layout)

[jaylohere]

Hi friends,
I have checked a 30*40 w facing site in BDA employees layout on kanakpura road( The one next to Bank officers layout) through a broker.Am contemplating whether I should go ahead with this offer, can you please help me.

1) What is the value for money price over here? since the brokers are quoting arnd 2500/- Sq ft.
2) Is there any litigations,issues with this layout? I presume there should not be any since its a BDA layout.
3) I had heard somewhere that BDA allotees have a lock in period, until which time they cant sell the site. In that case do we need a NOC from BDA?
4) What are the documents that I need to verify.
5) Lastly what would be the potential for growth over here in the next 2-3 years, since I want to start construction then. Right now there are only 2- 3 houses built over here.

Thanks!!

[manupro]

Hi. I'm also looking sites BDA employs layout. There is no litigation in this layout. But don't go. For right side layout. Better buy in left side. 2500 is good price. You can buy.

[jaylohere]

Hi Manu,
Thanks for the input. FIrstly I am a bit confused when you say.."Better buy on left side". Do you mean the left side, when we are going towards anjanapura(the part next to bank officers 3rd block)..? Secondly why do you say so?

Thanks!!

[varunach]

I finalized a site (south facing) in bda employees layout in the month of May 2011. Final price negotiated was 28.5L. Yes it had the lock-in of 10 years and layout was formed in 2006, however seller got NOC from society. Though I verified the papers with lawyer and he gave positivie opinion. I didn't buy it finally. Because it was not transferred to BBMP yet and I didn't get clear answer on whether I would get the BDA khata transferred to my name. Broker told me that BDA was in the process of transferring the layout to BBMP, so DBA temp. stopped collecting taxes for the year and khata transfer.

Also in this layout, most of the sites were registered jointly with employee and their family members name. Don't know the reason though.

[naveendeepthi]

hi varun!!
thanks for ur guidance regd letting us know tht it is not yet transferred to bbmp.. i am also planning to buy a west facing site 1200 sqft, that is somewhere in the nxt road of tht anjanadri arcade.. but the broker is quoting 3000 per q ft which is not nego.. do u think tht price is worth it??? did u finally buy tht property.. if u brought it , how did u deal with the transfer of khatha??

[varunach]

3K psqft. is too much. This layout hardly has any houses and closer to mosque. As I mentioned earlier I've not bought the site. You could actually visit Banasankari 2nd stage BDA complex in person and inquire about BDA khata transfer. Since many of BDA employees sit in that office owns site in BDA employees layout society, I'm not sure whether you would get unbiased feedfack.

In the same double road if you go little up further, you'll hit JP Nagar 9th phase 2nd and 3rd block to your right. It's proper BDA developed layout. I've seen sits there for Rs 2.5k psqft. You can check there too. There are lot of layouts in that area.

[promote_plots]

@jaylohere:
First of all you have to gather 2 types of document sets:
1. Eligibility documents of yours to purchase a site
2. Documents required for BDA site

Eligibility documents of yours to purchase a site:

1. Identity Proof: Photograph and any one of the following:Passport, Driving License, Pan Card, Photocredit Card(with embossed signature) & last two months statements, Bankers sign verification.

2. Address Proof:
Passport/telephone bill/electricity bill/title deed of property/rental agreement/driving license/election id card/photo credit card (with last two month statements).

3. Income Proof:
a) Salaried:
i) Last two months salary slip/certificate
(ii) latest Form 16
b) Self Employed/Businessmen: Last two years Income Tax Returns with computation of income,
Balance Sheet, P&L A/c. Firm/Company ITRs are also to be attached. Partnership deed/Memorandum of Understanding/Article of incorporation as applicable to be attached. Certificate of Registration in case of Sole proprietorship concern.

4. Last six months bank statement personal as well as of company/firm.
5. One passport size photograph to be affixed on application form.

[promote_plots]

For jaylohere again:

BDA ALLOTED SITES (If payment to be made directly to BDA):
01 Original Allotment Letter issued by Bangalore Development Authority.
02 Original NOC issued by Bangalore Development Authority.
03 Original Margin Money Receipt Documents to be submitted after Disbursement
04 Original Absolute Sale Deed executed by Bangalore Development Authority.
05 Original Katha Certificate issued by BDA/ BMP/CMC.
06 Original Latest Tax Paid Receipt.
07 Original Encumbrance Certificate from the Date of Allotment of Property till the date of mortgage.

[promote_plots]

For jaylohere again:

BDA ALLOTED SITES (Construction Loan):
01 Original Allotment Letter issued by Bangalore Development Authority.
02 Original Lease cum Sale Agreement executed by Bangalore Development Authority.
03 Original Possession Certificate issued by Bangalore Development Authority.
04 Original Absolute Sale Deed executed by Bangalore Development Authority.
05 Original Katha Certificate issued by BDA/ BMP/CMC.
06 Original Latest Tax Paid Receipt.
07 Original Encumbrance Certificate from the Date of Allotment of Property till the date of mortgage.
08 Original Approved Building plan
09 Original Detailed estimate for construction

RE- SALE OF BDA ALLOTED PROPERTIES:
1. Original Allotment Letter issued by Bangalore Development Authority.
2 Original Lease cum Sale Agreement executed by Bangalore Development Authority.
3 Original Possession Certificate issued by Bangalore Development Authority.
4 Original Absolute Sale Deed executed by Bangalore Development Authority.
5 Original Katha Certificate issued by BDA/ BMP/CMC.
6 Original Latest Tax Paid Receipt.
7 Original Encumbrance Certificate from the Date of Allotment of Property till the present date.
8 Original Sale deed between BDA allottee and vendor (entire chain of documents from allottee to present vendor)
9 Original Katha Certificate in the name of Vendor.
10 Original Sale agreement between applicant and Vendor.

[promote_plots]

For jaylohere again:
I have a nice and proper checklist of documents to purchase sites and constructions in any approval. If you can give me your mail id I can share that.
Thanks