Hi,

I am planing to book one apartment near borewell road, Whitefield.This project is approved by HDFC & LIC Housing finance.

I have taken documents from builder for Lawyer verification. My lawyer saying that This project is in Hitech Zone - ITPL and should be used for commercial purpose only.

When builder approached for NOC for construction, BDA given reply that it is Hitech zone,cannot give approval but BBMP has given approval construction.


I am getting confusion that how come HDFC and LIC given approval for HITECH zone Property?

In borewell road now a days many apartments are coming. i have asked one of my friend who is already bought and living in apartment, he told that he does not know about HITECH Zone.

is it risky investment to invest in apartment in HITECH Zone.(borewell road, whitefield)?
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  • Check whether any conversion has taken place. ITPL is mainly an industrial area and any builder wanting to construct an apartment should get his land converted first. Do check each and every single detail about the property before booking or signing the agreement.

    jose
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  • First priority may be to talk to builder and see his documents.

    It may also be a good idea to check with HDFC/LIC on what basis they have given approval to the project.
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  • Hi,

    I am also about to enter into a sale agreement for a flat in the same area and my lawyer also has given the same input regarding the hi-tech zone rule. My builder says there is no problem since it is BBMP approved. I don't think he has an NOC or a conversion done from BDA in this regard.

    Could you please let me know any updates in your case ?

    Thanks
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