(Bangalore property|apartments|flats|lands for sale in Bangalore)
The
registration has commenced pertaining to all the properties consequent to the
relaxation of the ban imposed on the registration of certain properties. The
ban on the registration has created an awareness in the public not to invest on
the property which is improper.On the other hand, the recent demolition drive
undertaken by BMP in Koramangala has created a sense of fear among the public
to invest on the property in and around Bangalore. Walking on the road involves
risk; nevertheless we cannot sit at home. Likewise, investing in the property
also involves certain risk, but we have to take certain calculative risks which
will help us to live in a dream house and also appreciation on our investment.
Unknown
Area
No
advocate can give clear cut assurance on the properties. There may be few
transactions which cannot be traced from the documents produced for scrutiny,
such as previous agreement entered into with somebody, pending court litigation
between the family members or outsider, etc, which are the risky areas that
cannot be traced by seeing the property documents. However, advertising public
notice in the leading daily, having wide circulation in the area where the property is situated, will help to trace certain adverse claims, if any, before
purchasing such property. However, such Public notice is only a precautionary
measure and may not be binding on any one having interest in the property if
the same is ignored or may have not seen the notice at all. If the same is
noticed by anyone having any kind of interest over such property, then
opportunity will be given to them to file the objection before the purchase of the property and subsequently, issues cropped pursuant to such objections could
be sorted out by the Vendor. The purchaser can also back out from such
transaction.
Registration
and Title
Even though all the properties can be
registered by the concerned Sub-Registrar, mere registration would not convey
the title. Registering officer will act only in the ministerial capacity and do
not have power to asses the Genuineness and
marketable title of the property. Infact, the Sub-Registrars are more concerned
with the stamp duty and registration charges. No one can give better title than
what they themselves have, is the basic principle of the Transfer of Property
Act. A vendor having marketable title can lawfully convey the property and register in the concerned Sub-Registrar in
favour of the purchaser and if the vendor has defective title, conveying the
same and getting it registered will not perfect his title as there will be a
lot of confusion as to whether the property is legally valid or not.
Clear Marketable
title
Before
purchasing the property, marketable title, Genuineness of the document,
enforceability of the title has to be scrutinized along with a thorough
verification as to whether the relevant provision of the laws and other rules
and regulations of the revenue authorities has been duly complied. Origin of the property, flow of the title and present status has to be verified with the
help of an advocate, who is having experience on such matters.
B.D.A.Sites
Bangalore
Development Authority, previously known as City Improvement Trust Board,
allotted sites having the perfect title, compared with another title. BDA,
being a statutory body, has got its own procedure envisaged in the BDA act in acquiring the lands from the
private parties, formation of layouts along with all infrastructure like power,
water and roads. Generally, impetus is given for providing civil amenities and
width of the roads as per the town planning act.Layouts already developed has been provided with all the facilities
immediately, for which we will have to pay moderate rate. Likewise,
Co-operative society’s layout, private layouts approved by BDA are governed by
the rules and regulations of the BDA only. However, purchasing such property is advisable after scrutiny of the title thoroughly.
BMP Sites
A property
falling under the BMP Area is generally old properties. Vacant properties are
very few. Generally ready built houses
or old houses are available for sale.Title of the property is required to be
traced from the origin with successive deeds of transfer, computerized Khata
and computerized Khata extract to be checked up.If required, city survey map
and Building sanction plan has to be verified.Sometimes, larger extent of properties would be divided into smaller
portions and in such case, only certified copies of the title deeds would be
available. Old 7 CMC area, 1 CMC area
including 111 villages included in the
BBMP area from 16/01/2007. The newly added BBPM area do not have proper infrastructure facilities such
as Road, water, sewerage line etc.,most
of these sites and houses do not have A
Khatha or Building Plan Approved by the
competent authority and purchasing this type of property having high risk.
BMRDA Approved
Sites
Recently,
lot of layouts approved by BMRDA i.e.,Anekal Planning Authority(APA),Nelamangal
Planning Authority(NPA),Magadi Planning Authority (MPA),Hosakote Planning
Authority(HPA),Kanakapura Planning Authority(HPA), Bangalore International
Airport Area Planning Authority [BIAAPA] are coming up in the outskirts of
Bangalore, with proper planning and
development.This is due to the recent ban on registration of such properties
without BMRDA Release Letter.
Recently,
BMRDA has changed its rules and regulations, wherein only 60% of the sites would be released at the time of approving layout plan, while remaining 40% of
the sites will be released after completion of the entire layout.Accordingly,
the Sub-Registrar refuses to register such sites without the release letter. So
it became mandatory on the part of the developers to develop the entire layout
and get the release order of the balance 40% of the sites.After the relaxation
of the ban on registration, Sub-Registrar is registering BMRDA sites without
release order, which, in fact has affected the developmental activities of such
layouts.
Few of the
promoters are selling the sites without providing basic facilities with an
assurance to develop the same, but fail to do the same. The government has to
take initiative and should make it mandatory to submit order of release of
sites at the time of registering BMRDA approved sites, in order to safeguard
the interest of such purchasers.
Gramathana Sites
These are
gramathana sites, originally available in Village Panchayat areas, and which
are few in number. They can be distinguished from Kaneshumari number, assigned
to them. The agricultural lands have survey numbers. In such properties, it is
necessary to examine village records along with Form No.9 and 10 which confirm
that the particular property is original Gramathana site or not. But many
village Panchayats issue form No.9 and 10, though they are not Gramathana
sites.Many such sites fall in green area belt areas, where construction of
residential building is restricted. Extra caution is necessary while buying
Gramathana Sites.
Revenue Sites
These are
the sites formed in an agricultural land. Unless it is converted for
non-agricultural residential purpose,it remains as agricultural land. Formation
of layouts is not permitted on agricultural land. Further, layouts need the
approval from BDA or BMRDA. The revenue records such as Pahani and mutations of
these lands remain in the name of the original owner even after it is purchased
by others. It is not advisable to purchase the Revenue sites.
Advent of
Apartments
The rapid
growth of demand for Apartments in Bangalore, within a year, has totally
changed, wherein, average rate of a standard apartment per sqft of Rs.3000/- has now enhanced to present rate of
an average standard apartment attaching to the city area at nearly Rs.4000/-
per sqft.Now a days people prefer to live in the apartment concept because of
the safety, social life and facilities available there.
Increase in the land cost, increase in the
construction material and construction labour cost, government levies like
service tax, sales tax, stamp duty and registration charge have also
contributed for the tremendous growth of the apartments in the recent times..
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