contra

]http://http://timesofindia.indiatimes.com/Cities/That-dream-home-is-no-longer-a-risk/articleshow/4497742.cms[/url]

One of the main reasons customers started buying flats since early part of decade is because of legal safety in buying a flat. A flat from a reputed builder and papers approved for home loan by a Nationalized bank is considered safe for buying or investing.

There are still a lot of people in Bangalore who want to buy a plot or independent house rather then a apartment. But avoid due to legal problems for which bangalore is notorious ( I know many cases, where people have lost money by investing in land in Bangalore even in good locations like J P Nagar due to litigation problems).

Bangalore was good during the old days when KHB and BDA were developing layouts. Since 1990s suddenly with new private contractors, agents, local private developers etc all these legal problems started in land investment in Bangalore. Even BDA was shut down and KHB is just a shadow of its past (KHB created Jayanagar the best residential layout in India, today KHB is just a shadow). Real estate sharks have destroyed Bangalore.

Today if Chennai has overtaken Bangalore in real estate, Bangalore must be ashamed of these real estate sharks who destroyed it.

Hope this new initiative by BBMP, Bangalore Municipality will bring back confidence to Land investors in Bangalore. Otherwise capital will flow to Chennai and Bangalore will become loser.

ks2071746

Dear friend,

Such things like Bangalore experiences also are there in Chennai. One need to be very careful and cautious in RE business that too when own's hard earned money is involved.

ks2071746

Natarajg007

U bet u r right Contra. In Bangalore the govt tries manage the land and so this problem. In Chennai the govt only maintains the records and does not try to own and manage land. So it makes sense for an outsider who can read Kannada script to buy a Flat than a Land.