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Property price in Ramamurthy nagar

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Property price in Ramamurthy nagar

Last updated: November 3 2012
16 | Posts
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  • #11

    #11

    Re : Property price in Ramamurthy nagar

    Chandru,

    I am not a real estate agent but an IT professional who has been trying for last 1.5 years to buy a property in Bangalore. Since I was looking to manage with the available resources (not bank loan), my budget was only around 30L for an independant house. Finally I have purchased a house 2 weeks ago in the outskirts of HSR layout. Before that I have researched a lot in Ramamurthy Nagar, Kodichikkanahalli, B'ghatta road etc.

    All these areas (including the HSR suburbs where I got), are taken over by BBMP in 2006 and as you said khatas are not available for many properties. I checked with a leading advocate and he confirmed that delay in issuing the khata is not because of any problem with the property, but BBMP's delay in collecting the betterment charges.

    Now, I am not sure about the BBMP elections or betterment charges, but I confirmed a few things with the advocates and BBMP.

    BBMP is issuing form-B Khata which is available for properties that are not provided with a khata in the delay period. If the documents are clear, then BBMP will issue this and this is a must for if you are selling the property. If the property has previous khata issued by the panchayats /CMC, you can get it checked with a BBMP officer. He will be able to tell you if this is a bogus or real document. Finally, you should check if the property is eligible for a bank loan.

    As you said, many have bogus documents, but not all of them. Infact I was about to finalise a property in Akshaya nagar which had clear docs and Canara bank sanctioned loan also (I just wanter to check the loan eligibility). But the seller had withdrawn in the last moment thinking that he can get a better deal once the road is done.

    In short, there are many properties with good and bad titles in these areas. Its upto you to decide to take a wise decision after checking the papers. Never fall prey to any real estate guys. Personal verification is the best according to me!

    Comment

    • #12

      #12

      Re : Property price in Ramamurthy nagar

      Originally posted by sanos View Post
      Chandru,

      I am not a real estate agent but an IT professional who has been trying for last 1.5 years to buy a property in Bangalore. Since I was looking to manage with the available resources (not bank loan), my budget was only around 30L for an independant house. Finally I have purchased a house 2 weeks ago in the outskirts of HSR layout. Before that I have researched a lot in Ramamurthy Nagar, Kodichikkanahalli, B'ghatta road etc.

      All these areas (including the HSR suburbs where I got), are taken over by BBMP in 2006 and as you said khatas are not available for many properties. I checked with a leading advocate and he confirmed that delay in issuing the khata is not because of any problem with the property, but BBMP's delay in collecting the betterment charges.

      Now, I am not sure about the BBMP elections or betterment charges, but I confirmed a few things with the advocates and BBMP.

      BBMP is issuing form-B Khata which is available for properties that are not provided with a khata in the delay period. If the documents are clear, then BBMP will issue this and this is a must for if you are selling the property. If the property has previous khata issued by the panchayats /CMC, you can get it checked with a BBMP officer. He will be able to tell you if this is a bogus or real document. Finally, you should check if the property is eligible for a bank loan.

      As you said, many have bogus documents, but not all of them. Infact I was about to finalise a property in Akshaya nagar which had clear docs and Canara bank sanctioned loan also (I just wanter to check the loan eligibility). But the seller had withdrawn in the last moment thinking that he can get a better deal once the road is done.

      In short, there are many properties with good and bad titles in these areas. Its upto you to decide to take a wise decision after checking the papers. Never fall prey to any real estate guys. Personal verification is the best according to me!
      Where do these BBMP officers sit? I am looking at North Bangalore (for eg: Rajanakunte). Any url/website about getting the papers checked for good titles?

      Comment

      • #13

        #13

        Re : Property price in Ramamurthy nagar

        www.bmponline.org/

        Try this site.
        Either land or AIR and FOOD. Choice is yours.

        Comment

        • #14

          #14

          Re : Property price in Ramamurthy nagar

          Hi Chandru .. Punjab national Bank is approving those layout .. Please advise me why did you so against NRI layout ? Amt thinking to buy one there

          Comment

          • #15

            #15

            Re : Property price in Ramamurthy nagar

            Hi Karthi,

            I am not against NRI or any other layout; also I am not saying all the properties in and around NRI layout are not good.

            What i found is, the NRI layout was sold for very cheap price long back and people who have purchased never gone for Bank loan as it was damn cheap. Moreover its an unapproved layout as of now and after paying betterment charges it may be approved by BBMP also (god knows when).
            But the main problem is those who are selling the plots doesn't have all the documents and they are not even ready to get a B-Khatha. I also get the documents checked by an advocate and he never recommended me to buy the plots at NRI layout and areas around Ramamurthy nagar layout.

            Sure you can buy plots if you find good/genuine property. You seldom get such properties.

            To get the papers checked you need to pay min. 10k and if you find the property not suitable you don't get the money back!

            Many sellers are making good bucks out of it. He will try to sell the land for very attractive price to many people and get the token amount of 10 k !! When people find the property is not good he will never return the money back. This is also a way of making money.

            Ramamurthy nagar, Hennur, Kalkere are some of the areas where these things are happening quite often.

            Comment

            • #16

              #16

              Re : Property price in Ramamurthy nagar

              Guys,

              The rates in NRI colony for a sq feet is around Rs.1200 and if anyone quotes more than that then just don't go ahead.

              Comment

              • #17

                #17

                Re : Property price in Ramamurthy nagar

                Dear sir,

                Many are the victims like me in this surrounding area ruled by Reddy's Rajyam. See some good localities in some other part of Bangalore or loose your entire money [or atleast loose your piece of mind by filling tension every day and night]. For some properties brokers are Reddy's arrange loans also for you. But after few years they start trouble for more money as the land price goes up. Either you should be in a position to fight against those goonda'/rowdies/bribed system including police who support them OR LOOSE ALL YOUR INVESTMENT which I don't recommend. This post is in the interest of the public. I will request all who lost their savings like me, come and post your experience here please. So that rest of the people will be cautious about such kind of Govt. supported land scam.

                Comment

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