We are considering buying a plot in Bangalore. The project is approved by BMRDA. Per the BMRDA project approval guideline, currently 60% sites are released, while 40% sites are retained by BMRDA. Per the project developer, these 40% unreleased sites will be released by BMRDA once project developer completes the development of the project per the BMRDA approval plan. As per project developer, one can go for the unreleased sites also and get that registered. (However loans can't be availed for these sites before release). Since we are not getting good options under the released sites, and the project developer seems to be quite reputed having completed about 3 projects in the vicinity of the new project, we are considering getting into unreleased sites(Not registering the plot before release, but blocking it by paying about 30% of the total amount). We find that the development is in full swing, and the project developer is confident of getting the release order for the 40% sites within next 2 months.

Will appreciate any inputs from those having knowledge\experience with BMRDA plot purchase. We also want to get some legal opinion, so will appreciate any good advocate reference.

Rgds,
Read more
Reply
1 Replies
Sort by :Filter by :
  • unreleased sites

    i have registered a plot in 40% not rleeased sites. now builder is not avialable now... no work is going on... how do i get khata for this ? can i pay tax for this land? what will happen if developer do not do any thing in the site...


    Originally Posted by kadatiya
    We are considering buying a plot in Bangalore. The project is approved by BMRDA. Per the BMRDA project approval guideline, currently 60% sites are released, while 40% sites are retained by BMRDA. Per the project developer, these 40% unreleased sites will be released by BMRDA once project developer completes the development of the project per the BMRDA approval plan. As per project developer, one can go for the unreleased sites also and get that registered. (However loans can't be availed for these sites before release). Since we are not getting good options under the released sites, and the project developer seems to be quite reputed having completed about 3 projects in the vicinity of the new project, we are considering getting into unreleased sites(Not registering the plot before release, but blocking it by paying about 30% of the total amount). We find that the development is in full swing, and the project developer is confident of getting the release order for the 40% sites within next 2 months.

    Will appreciate any inputs from those having knowledge\experience with BMRDA plot purchase. We also want to get some legal opinion, so will appreciate any good advocate reference.

    Rgds,
    CommentQuote