Recession might have hit the economy hard. But it has also opened the doors for people seeking to construct their dream home or buy an apartment. But here is a piece of advice: Do check the details and authenticity of the property with civic agencies before buying a plot/house/apartment.
The hassle in purchasing unauthorised properties is that there are always chances of the property being demolished or heavy penalties being levied to regularise it.
City based realtors point out that inquires are pouring in for purchasing sites/houses/apartments. According to property estate consultant Nikesh Noronha, though the real estate business has been hit by the recession, the number of enquiries has been increasing since June. “The cost of properties has come down and lots of properties are available for sale. There is also an increase in people wanting to buy properties,” he added.
Noronha said that those wanting to buy property must seek legal opinion before sealing the deal, what with many Bangaloreans on the look out for affordable housing.
Layouts are indeed springing up on plots measuring up to three acres in places like Kengeri, Whitefield, Ulsoor and Sarjapura Road.
People should ask for no-objection certificates (NOCs) issued by civic agencies like the Bangalore Development Authority and Bruhat Bangalore Mahanagara Palike before purchasing a property. There are instances of developers obtaining NOCs only for land conversion but not for layout formation and sale. Such nitty-gritty should be looked into. People should also ask for a copy of the sanctioned plan and verify whether it has been approved.
Verify and buy
Buyers can check lists of unauthorised properties on BDA, BMRDA and BIAPPA websites. Taluk offices at Magadi Anekal, Nelamangala and Hoskote issue construction approvals.
The BDA website (www.bdabangalore.org) had listed 127 illegal layouts as in 2007 with their geographic location and details of builders.
Last year, BDA had cautioned people against purchasing properties in European township as it was unauthorised. This year, however, no specific list of illegal layouts has been prepared as yet.
People wanting to buy property can contact BDA at 080 23443206/ 23340258 for more details before taking a decision.
According to BMRDA and BIAPPA, people should check documents personally before buying properties. There are chances of sellers producing fake certificates, hence, people should visit civic agency offices to cross verify.
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