Predicament with buying a plot in bangalore

[godisgood]

Hi Members

I have been searching for a plot for some time now in Bangalore and have still not managed to buy a plot. My idea was to buy a plot which will become livable in 2-3 years which I can then use for my own residential purpose somewhere in the range of 1500 to 2000 psqft. I just wanted to share my experience with you and get your opinion.

After searching till now I find that there are only 3 category of plots

1. Those that come under BMRDA and are pretty far from the city center or for that matter far from anything. These are ideal for ppl looking to invest for future.
2. BDA plots \BDA approved plots which are are more or less near the center of the city but these are too costly for me usually in the range upwards of 3000 psqft. The moment a plot is BDA approved the rate shoots up. Some of these areas are sparsely populated but prices are nevertheless very high.

3. Plots that are between the BDA and BMRDA areas which recently came under BBMP as greater bangalore(i think).

My predicament is that in the third category many plots are in reasonably good localities, and are in the range of 1500-2000 which is exactly wat my budget is. But problem with these areas seem to be that earlier they were under gram panchayats etc so they were just DC converted and approved by panchayats and half the people have constructed houses but now fall under BBMP. Sellers of these plots say that these are already under BBMP with a valid khata, hence no question of BDA coming into picture. Legal opinion says a BDA approval (or BMRDA approval) is always necessary for any layout. Initially I ignored these kind of plots in my search but looking at the present situation most areas are in bangalore are in the same state.
Some areas include land around ECity, Bommanahalli,Whitefield, KR Puram, Bannerghatta Road and even North Bangalore. Some of these areas are really good when compared to even BDA layouts like BSK 6th and Anjanapura which are from a long long time in the same state.

Looking at this I would just like to know the opinion of forum members here about their experiences. This is just something which i felt like discussing with ppl who have some free time on their hands, others please ignore my story

[kalidas]

Very true. Unfortunately category 1 is too far and category 2 is too expensive for ordinary middle class. Even after working with IT industry, the rates of most BDA approved plots are unaffordable. This is exactly the reason for such huge increase in category 3 sites... Once sakrama comees, I guess this problem would be rectified (including Khata and nationaised bank loans).

[basava03]

You rightly pointed out about regularization (Akrama - Sakrama). But, once this happens, even these (category 3) prices will shoot up.
The fact that people are selling for lesser prices is the same. They are not sure about this never existence Akrama - Sakrama. Every month, court post pones the hearing and nothing guaranteed about it. My suggestion would be, decide where do you want to stay in next 3 years. Based on that, either go with a BMRDA or a BIAAPA gated layouts, wwhere in you'll get nice landscapes, clubhouse facility, children play area and stuffs like that.. for the same price that you are able to pay now,i.e around 1100psft.

Just dont worry about the distance between home and your work. You will enjoy your life in such a layouts with your family rather than a dry/polluted layouts, which are within the city now. This is my feeling. Everyone will have their likes and dislikes of course. You should just decide on what YOU want.

[godisgood]

Yes that is a valid point that akrama-sakrama can improve the situation. Also as pointed out though with approvals the price of these will go up, due to the large volume of such properties it might also not go up so much. I mean although a plot that now costs 1500 may go to 2000 it is still better than spending 3500 on a similar plot which has a BDA stamp.
One question on my mind here is although the plot or piece of land itself get a valid khata and become 'legal' what about layouts that contain such plots which were never approved by any other authority other than gram panchayats or in some cases noone. These will still be illegal right? I have seen a number of layouts around bannerghatta road which are in this state. Will akrama-sakrama really help those guys ?

[akula]

One factor that decides price is the bank loan approavals. I believe there are sub categories in category 3, those which are entitled for loans (atleast from some private banks) and those that are not. so how much impact sakrama scheme will have on price will depend on this factor also.

About akrama sakrama scheme, I guess it will have its set of rules like what kind of layouts are approved. I read somehwre that the layouts formed before dec 2008 will be considered for approval. now i dont know what forming a layout exatctly means ..

Hi basava03,
You said >>>"..decide where do you want to stay in next 3 years. Based on that, either go with a BMRDA or a BIAAPA gated layouts, wwhere in you'll get nice landscapes, clubhouse facility, children play area and stuffs like that.. for the same price that you are able to pay now,i.e around 1100psft"

Can you point out projects with this criteria ?

[godisgood]

One thing about layouts on the outskirts is that I dont mind travelling to work from there. Because anyway the places where I work\or may work are anyway far away from the centre but what about things like schools for kids, shops and hospitals etc. These are more less not so much there and it may take more than 6-10 years for these to come up in such layouts. For kids or the aged to travel so far is more or less not so good. What are your thoughts?