KG Layout Allottees returning BDA sites

[msn1270]

As per one of the RTI Activist, so far nearly 1000 allottees of the Kempegowda Layout have returned/applied for cancelling their sites expressing their inability to pay the balance amount. Even BDA has confirmed the news, but with a lower number and giving a very vague excuse that, its all because of the demonetization effect and strict monitoring of funding from the Income Tax department as many applicants unable to get bank loans with their real income proof. BDA Sources say not even 25% of the allottees paid their balance amount so far. Out of Nearly Rs. 1200 crores due, BDA has got only around 280 Crores.

Especially higher dimension site allottees are returning their allotments. This is in spite of giving 60 days grace time for payment. Now BDA is planning to give more one grace period. Not sure about the outcome.

This shows the state of the real value of the BDA Land in the current situation.

[msn1270]

here is another version where the land lords who got their 40% developed land for giving their land for the KG Layout are ready to sell at a rate lower than the BDA.

[GPM]

BDA has not done any developments in its previous layouts as SMV, BSK… Just to raise a fund now it started playing the game in name of KG layout.. It’s not worth to believe and Invest in BDA sites as current situation looks like BDA will shut at very soon.

[msn1270]

some more news

[s v kumar]

It was reported earlier that 2000 acres of land belongs to government hence bda the rest purchased from farmers.hence litigation of land aqusition may perhaps maynot arise. This is a fond hope ofcourse.Factually is this correct?

[msn1270]

In fact as per Urgan Development Minister K.J George, after the provisional list of allottees were release in june 2015, BDA was supposed to call for second round of Applications for the proposed 10,000 sites in the kG layout II Phase in last October 2016 itself. But so far we don't see any such move.

[RAJARMRA]

Can someone tell if there is further extension of time given apart from the initial 120 days.

[homgir]

requesting anyone to share the information about extension of payment date and any other information that will be useful to successful applicants. calls BDA PRO are not successful.

[RAJARMRA]

Is there any information about further extension of time for paying the full amount?
After paying how much time does BDA take for registration.

[msn1270]

So far NO extension given by BDA.