Need feedback on Layouts Near Ecity (Mylasandra)

[ramkish]

Hi ,

I have come across few layouts in Mylasandra Near Electronic City, these plots are developed and marketed by Sai Realtors which is owned by Prabhakar Reddy, the area looks promising as its in between
Gottigere/bannegatta road and Electronic city and price being quoted in 1200 Rs/sqft(Negotiable).

I have went to their office located in Kormangala and its always crowded by people, the representative over there told me that complete layout is revenue land and we will get only panchayath katha, he also
informed that no lawyer will be recommending to buy a revenue land. But the interesting fact is he has already sold out few hundred of acres in the form of layouts and he is coming up with many new layouts with almost thousands of plots.

Also Artha Zen property is coming 1 km away from this layout

Can somebody tell me what are problems involved in buying these kind of plots and have anybody bought from this builder?

Thanks.

[ramkish]

Hi ,

Can some legal adviser/lawyer give me some idea on below queries

1. Can we convert these 30*40 sites to residential land(conversion ) later ? when akrama sakrama comes
2. Can we construct house in these revenue plots ? will be able to get any permissions?
3. is there any regulation that revenue land/green belt land cant be sold as layouts ?

[sami82]

No loans, its greenbelt so no commercial property can be built. Akrama sakrama is for properties built prior to 2014 in these sort of layouts. not for new ones. The only reason to buy is that there will be relaxation and denotification of land after STRR comes up them you can see value unlocking in may be next 15 years. its a buy and forget kind of investment. And important to note, no bank will give loan for anything for these sites. you have bring loan money from abroad.