Looking for BDA/BBMP site in a developed area

[amit_pearl2]

I have enquired in this branch. They dont give site loans.

[jackalbda]

they definitely give site loans as one of my friend recently( 2 weeks back) got it from there . But it was a BDA layout with BDA Khatha.

[bmsboy]

Rs 2500 /sq ft is running rate in Royal Shelters.. So its neither good deal nor bad.. Try to negotiate more.. But layout is definitely worth if u r planning to construct house immediately..

One-of-the-agents had told me some-time-back that Royal-Shelters falls-under akrama-sakrama-scheme. So i guess u have to go through the akrama-sakrama route.

U can take composite loan (site+construction) which is easier to get.. As jackalbda said enqire in SBI-in-Jayanagar-4th-T-Block. Ther r really fast.. I know LIC-HOUSING has given loan in that area..

But if u r planning to construct house after 2-3 years then u can go for developing-layouts having Rs 2000 /sq ft instead of Royal Shelters which is a developed layout..

[amit_pearl2]

I too enquired with LIC. They are ready to fund. The only condition that have is loan tenure should be
minimum 5 years and prepayment charges are 2 %. i was looking for 2 years loan.
They did not agree.

[bkrag]

Thanks for your feedback, bmsboy. My response inline ...

>>>

Rs 2500 /sq ft is running rate in Royal Shelters.. So its neither good deal nor bad.. Try to negotiate more.. But layout is definitely worth if u r planning to construct house immediately..

I plan to construct immediately. But the legal formalities and the pace of labour work may extend the construction period to 12-18 months. I for sure do not want to extend beyond 18 months. Hence I shortlisted this layout, as other developing areas will not become developed in a span of 18 months. Hope you agree w/ me.

>>>One-of-the-agents had told me some-time-back that Royal-Shelters falls-under akrama-sakrama-scheme. So i guess u have to go through the akrama-sakrama route.
If it is DC converted, betterment charges paid and has BBMP khatha, I do not think it falls under akrama-sakrama. What else do you need to regularize, if it is a site? But the site I plan to buy does not have a BBMP khatha, it has a CMC khatha w/ betterment paid. Before going for a bank loan, I need to get this converted into a BBMP khatha. Please advise if this is the correct procedure.


>>>But if u r planning to construct house after 2-3 years then u can go for developing-layouts having Rs 2000 /sq ft instead of Royal Shelters which is a developed layout..

Do you know any locality in and around R Shelters where I can get for 2000/-? I am interested to know.

~bkrag.

[bkrag]

In my previous post, my response is "inlined" in the quote (fine print). The quote is tagged with ">>>" whereas my text is not tagged.

Just for clarity.

~bkrag.

[bmsboy]

Ask owner for layout approval paln.. If u can get it then it doesnot come under Akrama-sakrama.. But i guess royal-shelters doesnot hav layout approval plan.. They hav got only NOC letter.. Better try to contact Royal-Shelters-association to get more info.. Even if it comes under akrama-sakrama, penalty is around 50thousand.. So its not-a-huge-amount compared to layout-facilities

Ya.. i agree there is lot-of-confusion on akrama-sakrama.. So no-one-has-got clear-idea of akrama-sakrama including me I had tried to contact bommanahalli-BBMP-office but got different answers frm different officers..

Since ur budget is 50 lakhs(very lucky ) and want to complete b4 18months Royal shelters suits u..

Layouts around R shelters: ~Rs 2000 /sq ft
Duo heights : east-side of BTM-4th-stage-BDA-layout
Supreme residency : on the way to Royal shelters frm Vijaya bank layout
Duo marvel : north-side of BTM-4th-stage-BDA-layout. sites-for-sale r hard to find..
Lake view residency : kodichikkanahalli, near janapriya apts. sites-for-sale r hard to find..
Lake city - kodichikkanahalli, near janapriya apts. sites-for-sale r hard to find..

Layouts around R shelters and well developed: Rs 2500 /sq ft
Vakil marina - kodichikkanahalli, near janapriya apts. sites-for-sale r hard to find..
Royal residency - on double road, b/n BTM-4th-stage and BTM 6th-stage BDA-layout..

Best of luck

[bmsboy]

I too enquired with LIC. They are ready to fund. The only condition that have is loan tenure should be
minimum 5 years and prepayment charges are 2 %. i was looking for 2 years loan.
They did not agree.

@amit_pearl2 , r u looking for just 2 years loan very interesting U must b having good bank balance For better return u should hold site for atleast 4-5 yrs.

[amit_pearl2]

Thanks to the zero balance accounts. after i buy this site all my acount will be ZERO
Will be in debt for two year. I am buying this site to construct a house on it. Investment
is something when i would have surplus.... That stage has not come

Further if i dont get loan for this plot then i cant afford this...