shanmugahp

Dear Friends,

I am planning to buy a newly constructed house in Rammurthy Nagar for 50 Lakhs.The locality is decent with tar road and has houses constructed.However the owner says that he does not have the khata in his name and BBMP will issue katha after elections are over. He has given me EC tax paid receipts layout plan,plan approval and previous sale deed. Since I am going for a bank loan except IDBI no other bank is ready to provide me loan without katha. Upon verification with a lawyer it was found out that the plan approval document provied is a bogus .Can you please suggest me is it safe to buy this house considering this is my first investment . Also can anyone let me know the list of documents i need to verify to make sure the property is a safe buy.

jshivada

Even I am looking to purchase a house in Ramamurthy Nagar but I heard from my friends that 90% of the layouts in Ramamurthy nagar is not approved. Brokers are arranging for the bank loans with bogus documents. I believe after purchasing the house you have to apply for an approval from BBMP. Please think twice before going for this deal as you are investing huge money. You can probably give a second thought in buying the house in BDA area. Though they are costly you can avoid risks. You can check around banaswadi which should suit you as it is very near to Ramamurthy nagar.

sanos

Hi,

Been through a similar deal in B'ghatta road area and has some points to make:

BBMP Khata is not available in most of the newly acquired areas in Bangalore from 2006 if I am correct. It is a very common issue and BBMP must be blamed for it. They have stopped issuing khata about 2-3 years ago and it has nothing to do with the plot/house or layout. It is because of the delay from BBMP in estimating the betterment charges and collecting it. It is heard that BBMP will collect the betterment charges in next 4-5 months and issue the khatas.

You can always ask your vendor to produce the form-B khata which is issued by BBMP now. If the documents are clear, then they will issue form-B khata. There is no harm in buying the property if all other documents are clear.

Ramamurthy nagar and further northern areas of ring road is an ideal place for investment because it is developed long back compared to many other areas with similar price tag. The rates are expected to increase after the recession. Airport and city center is also not as far as south bangalore / far east bangalore.

List of documents needed are:

-Form B khata
-sale deeds or history of the property for last 10 years at least
-Tax paid details
-EC till date from bbmp
-loan statement if the property is under loan