Plots sold by Karnataka Housing Society

June 1 2019, 08:07 PM

madonna70

Join Date: Jun 2019
Posts: 1

June 1 2019, 08:07 PM

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  string(1460) "Dear IREF

Planning to purchase a plot of land in Devanhalli by SBI & Karnatake State Government Employees Housing  cooperative Society LTD.

These are the dicussions I have had with the project managers -please tell me if they are legally correct and if there is anything I need to be worried about- I have not moved in procuring documents yet or anything in writting. Wanted clarifications before I proceed. Need your help  here.

1. Land is A Katha property 

2. They Acquired land is 30 acres, as of now ( cleared for project)

3. They Plan to acquire 70 acers more ( which currently is agricultural-cultivated land)

4. This project although belonging to the Housing society is being developed by a company called- Banglore Realestate Company)

5.  They have [b]NO planned plots but mention you get a seniority number according to how quickly you pay the first installment.[/b] When asked about this they claim that this is how the housing society projects work and as and when  the development takes place further  government clearances will take place  and further allocation and planning plots will take place - Is this correct?

6. They also claim there is no scope for fraud because they are registered with the KA government. ( which is itself quite dubious sometimes)

7.  What are all the documents i will need from these guys? 

8. Is this worth venturing into?

Grateful for your time and advice.

M Francis






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Dear IREF

Planning to purchase a plot of land in Devanhalli by SBI & Karnatake State Government Employees Housing cooperative Society LTD.

These are the dicussions I have had with the project managers -please tell me if they are legally correct and if there is anything I need to be worried about- I have not moved in procuring documents yet or anything in writting. Wanted clarifications before I proceed. Need your help here.

1. Land is A Katha property

2. They Acquired land is 30 acres, as of now ( cleared for project)

3. They Plan to acquire 70 acers more ( which currently is agricultural-cultivated land)

4. This project although belonging to the Housing society is being developed by a company called- Banglore Realestate Company)

5. They have NO planned plots but mention you get a seniority number according to how quickly you pay the first installment. When asked about this they claim that this is how the housing society projects work and as and when the development takes place further government clearances will take place and further allocation and planning plots will take place - Is this correct?

6. They also claim there is no scope for fraud because they are registered with the KA government. ( which is itself quite dubious sometimes)

7. What are all the documents i will need from these guys?

8. Is this worth venturing into?

Grateful for your time and advice.

M Francis

Like
Quote
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June 1 2019, 08:41 PM

MANOJa

Super Moderator

Join Date: Jul 2010
Posts: 142354

Re : Plots sold by Karnataka Housing Society

June 1 2019, 08:41 PM

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  string(1529) "[QUOTE=madonna70;n2654350]Dear IREF

Planning to purchase a plot of land in Devanhalli by SBI & Karnatake State Government Employees Housing cooperative Society LTD.

These are the dicussions I have had with the project managers -please tell me if they are legally correct and if there is anything I need to be worried about- I have not moved in procuring documents yet or anything in writting. Wanted clarifications before I proceed. Need your help here.

1. Land is A Katha property

2. They Acquired land is 30 acres, as of now ( cleared for project)

3. They Plan to acquire 70 acers more ( which currently is agricultural-cultivated land)

4. This project although belonging to the Housing society is being developed by a company called- Banglore Realestate Company)

5. They have [B]NO planned plots but mention you get a seniority number according to how quickly you pay the first installment.[/B] When asked about this they claim that this is how the housing society projects work and as and when the development takes place further government clearances will take place and further allocation and planning plots will take place - Is this correct?

6. They also claim there is no scope for fraud because they are registered with the KA government. ( which is itself quite dubious sometimes)

7. What are all the documents i will need from these guys?

8. Is this worth venturing into?

Grateful for your time and advice.

M Francis






[/QUOTE]

Please note that this thread has been moved to the appropriate sub forum."
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Originally posted by madonna70 View Post

Please note that this thread has been moved to the appropriate sub forum.

Please read IREF rules | FAQ's

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June 2 2019, 06:20 PM

Somashekar

Senior Member

Join Date: Nov 2011
Posts: 988

Re : Plots sold by Karnataka Housing Society

June 2 2019, 06:20 PM

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Almost all Housing Societies are a scam. I have written before on how it works. Stay away from Societies layouts.

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