BDA KEMPEGOWDA LAYOUT SECOND PHASE ASPIRANTS
BDA KEMPEGOWDA LAYOUT SECOND PHASE ASPIRANTS
BDA Has called applications for allotment of 5000 sites in NKG layout.
Re: BDA KEMPEGOWDA LAYOUT SECOND PHASE ASPIRANTS
RERA
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- BDARERA.pdf
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Re: BDA KEMPEGOWDA LAYOUT SECOND PHASE ASPIRANTS
I had applied for bda sites before and
It is 2 attempts now.
Now my daughter turned 18 years and I want to stop
apply in my name and start applying in my daughter's name and transfer my attempts to her name.
Can this be done?
If yes what is the procedure to do this?
It is 2 attempts now.
Now my daughter turned 18 years and I want to stop
apply in my name and start applying in my daughter's name and transfer my attempts to her name.
Can this be done?
If yes what is the procedure to do this?
Re: BDA KEMPEGOWDA LAYOUT SECOND PHASE ASPIRANTS
Its not transferable. per my knowledge, It is considered while allotting the site only when the applicant is passed away.
Also in my opinion, its not worth to apply for BDA sites anymore. Even I had attempted 3 times earlier. But I stopped from
applying to the newly formed Kempegowda layout. Mainly, BDA is selling the plot at market rate (For General Category)
with the clause of 10 years lock in period and also developments takes at least 1-2 decades to provide all the basic amenities.
Instead we can buy a plot in a developed layout(in terms of amenities) with all statutory approvals in & around the same area
at that price.
Also in my opinion, its not worth to apply for BDA sites anymore. Even I had attempted 3 times earlier. But I stopped from
applying to the newly formed Kempegowda layout. Mainly, BDA is selling the plot at market rate (For General Category)
with the clause of 10 years lock in period and also developments takes at least 1-2 decades to provide all the basic amenities.
Instead we can buy a plot in a developed layout(in terms of amenities) with all statutory approvals in & around the same area
at that price.
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rakesh_npkl
- Posts: 5
- Joined: December 30th, 2017, 8:09 am
Re: BDA KEMPEGOWDA LAYOUT SECOND PHASE ASPIRANTS
https://epaper.timesgroup.com/Olive/ODN ... &mode=text
BDA Violating KRERA Act in Kempegowda layout! Buyers please proceed with precaution. BDA is not telling what its doing with the money and no development in 2 years for phase 1 allottees
BDA Violating KRERA Act in Kempegowda layout! Buyers please proceed with precaution. BDA is not telling what its doing with the money and no development in 2 years for phase 1 allottees
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santosh patil
- Posts: 47
- Joined: May 15th, 2011, 7:26 pm
Re: BDA KEMPEGOWDA LAYOUT SECOND PHASE ASPIRANTS
Do not do so, continue with same name, it will become 3 attempts and with Age factor, there is more chance that you might get allotted with site. Dont worry about 10 years lease, There is BDA cluase to build house in 5 Years, Aslo RERA Karanatak Rule is there now, so our Money is Safe. Continue your attempts, if you can afford site.
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santosh patil
- Posts: 47
- Joined: May 15th, 2011, 7:26 pm
Re: BDA KEMPEGOWDA LAYOUT SECOND PHASE ASPIRANTS
Since Its is Application Stage only and not Allotment Stage, I will Blog only about Application PROS and CONS.
1) Allotment is Purely based on Attempts and Ages. If two people are having Same Attempts, then they will consider Age.
If Person A is applying First time and His age is 75 years , Person B is applying First time and His age is 74 Years. Then Person A is allotted with Site. Person B has to wait. Due to Age Factor.
If Person A is applying 3rd time and His age is 52 years, Person B is applying Second time and his age is 83 years, Then Person A is allotted with Site. Person B has to wait. Due to Attempt Factor.
2) If this First time you are applying, then apply in the name of your Parents, since the Age will be more and hence more chance of getting allotted. If this NOT First time, then unfortunately you have to continue the same, so the Number of Attempts gets Increased. This idea works better for People who don't have Brothers / Sisters. So if Parents get allotted, then He/She can fund through loans as well.
3) If you have Brothers / Sisters, then applying in Parents name is not recommended. Since the Site will be in 10 years Lease, If your Father/Mother applies and get allotted, and you pay loans to the Site as CO-Owner. After 10 year lease the property is registered first in Father's / Mother's Name. Later it has to be Gifted to you after 10 Years. I will STRONGLY TELL after 10 Years, the 23 Lakhs (30x40) Site value will be atleast 60 Lakhs. During that time, there is 100% chance, in the Change of time for 10 Years, Your Brother / Sister would approach for Share in that. While now you have paid loan for 23 Lakhs, you might have adjusted the money with RISK But after 10 Years, Even 23 Lakhs will not be worth RISK you have take now.
So Please discuss with your Brothers / Sisters and openly share your fiancial burdens. All of you Pay Loan Interest commonly, If not Decided NOW ONLY who should own the Site. 50x80, 40x60 can be shared within Family, But Sharing 30x40, 20x30 sites after 10 Years, if the rates are high, it will become really tough.
4) For Investors: Please understand, the market value of Site in NPKL for 30x40 site at Mysore Rd side is 35 Lakh and Magad Rd side is 30 Lakh, But BDA is now giving at 23 lakhs. Reason being it will be in 10 Years Lease and only after 10 Years you can sell it. Also there is another important clause, i.e. Build house in 5 Years from allotment. Which means in 5 years you have to build house. If not Site will be canceled. Please understand you are not buying site for 200rs and wait for 10 years for it to become 2000rs. Reality is you are Buying at 2000rs and wait for 10 years for it to become 5000rs. Not much of Appreciation though, still its on advantage end, if you have previous attempts and Cash. So think about.
5) People who really need a Site to build a house and live in NPKL. This would be best oppurtunity since, BDA is selling Sites in Two Years Old Rate. so you are already in advantage. This NPKL is the last layout from BDA and RERA is implemented and 100% BDA has to complete the Layout in 3 Years. In the center of layout 100M (300ft) road will be constructed to connect Magadi Road and Mysore Road. On Mysore Road - Metro Rail and Magadi Road - Mono Rail is Proposed in RMP 2031 BDA plan. NPKL is has many lakes, so this could be Best Residential Layout. Bidadi Town ship already Approved, 6 Lane Bangalore - Mysore Raod. All will contribute for development of Layout.
1) Allotment is Purely based on Attempts and Ages. If two people are having Same Attempts, then they will consider Age.
If Person A is applying First time and His age is 75 years , Person B is applying First time and His age is 74 Years. Then Person A is allotted with Site. Person B has to wait. Due to Age Factor.
If Person A is applying 3rd time and His age is 52 years, Person B is applying Second time and his age is 83 years, Then Person A is allotted with Site. Person B has to wait. Due to Attempt Factor.
2) If this First time you are applying, then apply in the name of your Parents, since the Age will be more and hence more chance of getting allotted. If this NOT First time, then unfortunately you have to continue the same, so the Number of Attempts gets Increased. This idea works better for People who don't have Brothers / Sisters. So if Parents get allotted, then He/She can fund through loans as well.
3) If you have Brothers / Sisters, then applying in Parents name is not recommended. Since the Site will be in 10 years Lease, If your Father/Mother applies and get allotted, and you pay loans to the Site as CO-Owner. After 10 year lease the property is registered first in Father's / Mother's Name. Later it has to be Gifted to you after 10 Years. I will STRONGLY TELL after 10 Years, the 23 Lakhs (30x40) Site value will be atleast 60 Lakhs. During that time, there is 100% chance, in the Change of time for 10 Years, Your Brother / Sister would approach for Share in that. While now you have paid loan for 23 Lakhs, you might have adjusted the money with RISK But after 10 Years, Even 23 Lakhs will not be worth RISK you have take now.
So Please discuss with your Brothers / Sisters and openly share your fiancial burdens. All of you Pay Loan Interest commonly, If not Decided NOW ONLY who should own the Site. 50x80, 40x60 can be shared within Family, But Sharing 30x40, 20x30 sites after 10 Years, if the rates are high, it will become really tough.
4) For Investors: Please understand, the market value of Site in NPKL for 30x40 site at Mysore Rd side is 35 Lakh and Magad Rd side is 30 Lakh, But BDA is now giving at 23 lakhs. Reason being it will be in 10 Years Lease and only after 10 Years you can sell it. Also there is another important clause, i.e. Build house in 5 Years from allotment. Which means in 5 years you have to build house. If not Site will be canceled. Please understand you are not buying site for 200rs and wait for 10 years for it to become 2000rs. Reality is you are Buying at 2000rs and wait for 10 years for it to become 5000rs. Not much of Appreciation though, still its on advantage end, if you have previous attempts and Cash. So think about.
5) People who really need a Site to build a house and live in NPKL. This would be best oppurtunity since, BDA is selling Sites in Two Years Old Rate. so you are already in advantage. This NPKL is the last layout from BDA and RERA is implemented and 100% BDA has to complete the Layout in 3 Years. In the center of layout 100M (300ft) road will be constructed to connect Magadi Road and Mysore Road. On Mysore Road - Metro Rail and Magadi Road - Mono Rail is Proposed in RMP 2031 BDA plan. NPKL is has many lakes, so this could be Best Residential Layout. Bidadi Town ship already Approved, 6 Lane Bangalore - Mysore Raod. All will contribute for development of Layout.
Re: BDA KEMPEGOWDA LAYOUT SECOND PHASE ASPIRANTS
Hi,
1. My parents does not have BDA site or any sites in Bangalore. But my father has applied for site in Mysore about 15 years back in one of private housing society registered and now a 30X40 site has been allotted in my father name. Can my father who is an government employee with one year of service can apply for site in NPKL?
2. I have brought grammathan site in magadi road, can i apply for site in NPKL ?
1. My parents does not have BDA site or any sites in Bangalore. But my father has applied for site in Mysore about 15 years back in one of private housing society registered and now a 30X40 site has been allotted in my father name. Can my father who is an government employee with one year of service can apply for site in NPKL?
2. I have brought grammathan site in magadi road, can i apply for site in NPKL ?